So one obvious experiment, for anyone with a Space Pen that globs, is to leave the pen uncapped for a while and see if ink globs still develop.
Totally unscientific experiment. I occasionally get the "ink blob" issue when I first start writing with my Space Pen, too. Instead of shoving the cap back on when I'm done, I have started to ease the cap back on. It still rides in a small pouch in my pants pocket, so that part is still the same. Haven't had the ink blob issue since then, but it could just be coincidence because I don't get it all the time anyway.
I'm acting on the theory that with the o-ring in place, jamming the cap on quickly may overpressurize the space around the tip of the pen a bit, causing the little ball to ever so slightly be unseated. Since the ink cartridge itself is pressurized (to allow upside down writing), a tiny blob of ink may slowly leak out over time, causing the ink blob issue.
I haven't yet tried leaving the pen uncapped and seeing if I still get the ink blob (with an ink cartridge that I know can have the problem).
I can totally argue against this theory, too, since the pressure within the ink cartridge should reseat the ball, but it seems to work so far.