Indeed. Additionally, 23.S.1.f.6) that states: "in seniority order, among pilots who have submitted a yellow slip for conversion to short call and who have at least the maximum number of short call credits"

My layman brain interprets pretty clearly that if the SC open time is posted as available and a pilot Yellow Slips it, they are in the ladder of awards for that open time even if they are beyond the SC max. Ask the question, where did that un-awarded open time SC go if not to an above-max SC yellow slip? Apparently they can just go "poof" and aren't awarded at all.