I think you are reading the ECU trying to lean out the mixture based on the 02 sensor reading being way too rich. The "trim" is telling you that it can not lean itself out enough to get the 02 sensor readings anywhere near close to specs.
The rich mixture is confirmed by the condition of the spark plugs. If you clamp off the vacuum source to the fuel pressure regulator you will eliminate the unregulated fuel entering the manifold and it should clear up fairly quickly.
Keep us informed of any changes.
regards
mech
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