It's too bad you have chosen the John Paul "anything can be fixed by cutting off the lower limbs and even more can be fixed by removing top limbs too" Sanborn way of hazard reduction.
And of course all Mike does is deadwooding and removals (
obligatory John:Mike sarcasm)
Much of this was covered by others so i will try not to be too redundant.
Can this adventitious growth soon become more of a wind sail than before the trimming?
This is tree management, basswood will always put on tall vertical spouts. Regular cycles of pruning to keep it where it needs to be, maybe some Cambistat.
Will these reserves come at the expense of not laying down new wood over the decay?
perhaps for one year, maybe the soil work and judiciouse watering can help too.
Is a crown reduction or topping the tree a short term fix?
obviously, it is managing the tree unto it's death. This tree would need auxillary support similar to the what Russ Carlson recomended for the Freedom Poplar (??) a few years ago if it were to do any good. a steel frame that coulkd support the entire tree incase of failure. That would be over doing it, jsut a bit.
Will you make any money if you do nothing?
And what is the problem with making money. I've told people that they don't need any tree work before, and I've heard Dave do it too. Where does all this handwringing come from? "We don't know for sure, so we should do nothing!"
Hazard mitigation does not eliminate risk of failure. Only removal can give this guarentee.
Removal of termal growth can effect root development, so application of root stimulant may be recomended.
What it this with removal too? Just as with doing nothing it is an option that we can give the client. One thing I like about Dave is that he does give the client several options to go with when he renders his proffesional opinion (and i know he agonized about giving only the removal option due to his concern with the major defect.)
He tells people what he can do for them, offers the science behind it, and maybe some other opinions that are in the industry. Often he will start with "The tree is eventually going to
have to come down." Some times he will qualify that statement with "which is what i would be most comfortable with." or "I don't think that is really nessesary at this time."
Yes, cutting live wood is wounding the tree. No the tree does not
know the best way to grow. It operates on what is most productive at the termall end durring that growth season and the relationship between roots and H2O availability. That's a gross over simplification, but so what.