Update to what really happened:
I applied ~1.5 months in advance of my 7 years and got a rejection letter for PR status. (Too early to apply)
So I applied at the stroke of midnight of my 7 year anniversary....where it was kept in "processing" status.
I had to travel 3 days after my 7 year mark and was stopped at outgoing Immigration for expired Visa and had to pay a fine (~300 HKD cash) and had to write another "I'm sorry" letter. They did not or could not check in the system if my PR application was being processed or not.
I had to come back from my trip as a "tourist", and a month or so go my acceptance letter.
In hind sight: I shouldve made a Visa run and come back as a tourist to wait out the processing time.