Ice melting reduces the weight of the Artic ice sheets on the mid Atlantic trench.
I had the problem with the above statement explained to me in the following way:
Consider a glass of water, with ice cubes floating at the top. The pressure at the bottom equals the weight of the contents of the glass divided by the base area. Then allow the ice cubes to melt. Does the pressure at the bottom of the glass change?
Assuming no evaporative loss, the number of water molecules in the glass does not change, therefore the weight does not change therefore the pressure does not change.
Does the height of liquid in the glass change? Also no. The ice (of lower density than the water) displaces a volume of liquid water equal to its own mass. (Due to the lower density of ice, a small portion floats above the surface) So when the ice melts, its density becomes equal to that of the liquid water and the mass of ice now occupies the same volume of water that it originally displaced. Hence no change in height of liquid.
The Artic ice sheets float on top of water - they only encroach on the earth's crust around the coast of Greenland and parts of Canada and Russia. So the Artic ice sheets are analogous to the ice in a glass of water - melting them does not change the pressure at the bottom of the ocean (glass) or the level relative to the coast line.
I disagree with the assertion that melting Arctic ice sheets reduces pressure at bottom of the ocean - regardless on the effect of ocean floor pressure on volcanic eruptions.
Having made the above statements which probably upset the environmentally conscious, I am going to come down on the side of the greens. While my assertions above are true for ice floating on water, there is a very large mass of ice resting on top of land (Antarctica) and the entire northern coastlines of Alaska, Canada, Scandinavia and Russia. Increasing global temperatures (for what ever reason) will cause some of this ice to melt and flow into the oceans, increasing the mass of water in the oceans - thereby increasing sea levels and ocean bottom pressures.
I completely agree with Autogyro's opinion that humanity does not have a balanced account with nature, and that we need either a significant change in consumer behaviour, or the human population on earth, to correct the balance.