Weird. I'm new to raw denim, so I bought a pair of STFs to 'play' with. Wore them about 5 times and decided to soak just to see what happens (i.e. how they bleed, how much they bleed, color change, shrinkage, etc) and all I noticed was a loss of most of the sheen and they got a bit darker blue. I soaked them in a bathtub in luke warm/slightly cool water for about an hour. I bought another pair after I soaked them so I could see the difference of before and after.
Here are the soaked ones underneath the new ones (old were a 35 waist, new are a 34 waist, so that's why the new look smaller, but the 35's only seem to have shrunk a very tiny bit in the waist and not at all in length -- maybe due to cooler water used?):
Old (soaked) to the left:
All pics were taken on my MDA, so not the highest quality. These two were taken with me directly in the sunlight, and you can hardly tell which are which (new vs. soaked), but in person it is pretty noticable when side by side. The first pic is of the old (soaked) 501s: