That's exactly what it looks like - more ink being laid down than the canvas can handle. Only something is not clicking because all the settings are correct and I have tried different media settings and profiles just to see. I did slow the printer down and let it pause a few seconds between each pass. That helped but didn't completely eliminate the problem.
I've tried a few different canvases with the same result except on matte. I've tried Exhibition gloss, HP Collector Satin and Fredrix 901 WR Satin. Ink is PK. Had this problem in the past with an old Epson. Stuck some cheap G&G ink in it and the problem disappeared, but then so did the printer - I sold it.
Even with the correct media setting and profile, you have to back off the ink saturation on some materials. Technically the media setting should include the proper settings for this, but so often we're having to use a generic media setting rather than one specifically made by the material manufacturer for that specific media. In the 9900 driver, it's in "Paper Config" as Color Density with a -50% to +50% slider.