Hello SavageT. It sure does contract, but only for a relatively short time, which allows you to remove it from a chamber. If you wait longer than 30 minutes to remove it you may have to remelt it in the chamber. After one hour it's back to the original size and will slowly expand till around 100 hours or so, at which point it will stabalize with no further expansion.
I recently received the following information from a poster on another forum who had contacted the manufacturer.
"According to the maufacturer, Cerro Metal Products the expansion in inch per inch is as follows:
2 minutes -.0004, 6 minutes -.0007, 30 minutes -.0009, 1 hour .0000, 2 hours +.0016, 5 hours +.0018, 7 hours +.0019, 10 hours +.0019, 24 hours +.0022, 96 hours +.0025, 200 hours +.0025, 500 hours +.0025."
So the ideal time to measure the cast without any errors is close to 1 hour.
Wayne