FWIIW, a study at the University of Delaware found that most of the (elite level) figure skaters they studied were skating with bone fractures - if I understood correctly. So shock absorption might make sense.
But if you use materials that are TOO squishy, then the skate will tilt and move around a fair bit after you place the skate on the ice on edge. Perhaps the fact that figure skating judges seem to pay a lot of attention to holding the edge and arc with some constancy, and the difficulty it might be to balance a jump take off and landing if the blade and edge depth shifted during the landing would make squishiness bad. I'm not sure how important a factor that is.
I wonder if Revolution blades are constructed in such a way as to mechanically confine the effects of the distortion to mostly vertical motion. If so, squishiness in those blades might be better than squishiness in the outsole and heel.
Incidentally, squishiness that generates tilt, will also create sideways motion in the knees and hips. That's true even if the stiff boot prevents sideways motion within the foot and ankle. It is said that sideways motion in the knees can cause injury, especially during jumps.
There are no doubt a lot of factors that go into figure skate design. And the number of reasonably high level figure skaters might not justify the costs of research, unlike hockey, basketball, soccer, track and field, etc. So figure skating boot designs may be less optimal than athletic shoes for those sports.