This is an interesting thing, which I also thought about some time ago, I also think z-pinch is involved. Even more, the extreme pressure could cause the formation of metallic hydrogen, an allotrope of hydrogen, (diamond and graphite are allotropes of carbon) ich is conjectured to be superconductive up to 700K.
So, that fall in resistance could be explained by small spots of superconductivity. Takahashi's TSC can be seen a kind of a cluster of metallic hydrogen. TSC itself collapses and causes CF. Note that in none of this there is new physics. Metallic hydrogen is conventionally used to explain Jupiter's intense magnetic field. Metallic Hydrogen is conjectured to be a superconductor at room temperature since the 60's. It's stability at null pressure can be simulated by molecular orbital calculations. TSC's is relatively simple molecule.
