I spent a few minutes making measurements on the bike this morning. My measurements were done fairly quickly, not highly accurate (tape measure, semi-calibrated eyeball, and a level). Then I placed the measurements into AutoCad in a sketch format. This was done to determine the ratio of lowered axle bolt height to shock length reduction. The ratio ends up being ABOUT 1.9 (for every a 1 inch reduction in shock length, you get a 1.9 inch reduction in axle height or seat height). These are ballpark numbers, but it is accurate enough to get an idea of the changes. This does not take into account shock set in or sag. It’s as useful as you want it to be:

12.5” shock is stock
12” shock equals .95” seat height reduction
11.5” shock equals 1.9” seat height reduction
11” shock equals 2.85” seat height reduction

So you guy going with 10.5” shocks are really down there…3.8”