Grant Haist describes this in his book. I suggest reading the entire 2 volume set to those interested in this type of problem.
Basically, activity goes up over about 3 days according to Grant, and then stabilizes more or less over the life of the developer. This is due to the pH rise causing activity to go up, and then it goes down as more HQ is used up to make HQMS. It finally stabilizes, and then begins to decrease over an extended period as the developer ages.
This is true of all HQ developers, again according to Grant.
PE
A question on a different Forum about Pyrocat HD is actually quite relevant here. The question was about longevity but I also posted about how it changes after mixing.
Now Pyrocatechin is very prone to oxidation, as is Metol but a bit less so, when mixing a developer, so when I made a new batch of Pyrocat HD Part A (dev agents Metabisulphite & Bromide) this afternoon it was a slight reddish colour, It was also slightly opaque, I bottled it and checked it an hour later after taking the dog for a walk, it was clear and a straw yellow colour.
You can see the same making up D76/ID-11 and other MQ - well on fact also PQ - developers, you'll get weak oxidation of the developing agents until reversed by the preservative usually Sodium Sulphite (a mild anti oxidant), Pyrocatechin & Pyrogallol needs a stronger anti oxidant like Metabisulphite.
I don't doubt your comments Ron's comment of Haists findings at all, in the real world we'd dump a replenished tank batch of D76/ID-11 and have no choice but use the new batch the next day, usually we'd seasoned it with some of the previous batch. We all hated using the very fresh developer but that wasn't just for the reasons Ron's mentioned rather that it wasn't fully seasoned, but of course partially this equilibrium balance.
Ian