The biggest major problem is with tyre depots using windy guns to tighten the wheel nuts. The torque figure on my S Type is 93lbft or 130Nm for the wheel nuts, windy guns (pneumatic impact wrenches) have a maximum torque of 250lbft (~320Nm) which is a shade over 2.5 times what the wheel studs/nuts were designed for - also more than the wheels (more importantly) were designed for.
This is something i get particularly angry about as after having wheels balanced on two separate cars at a tyre depot, the wheels were damaged irreparably due to the use of windy guns. There is also the strong likelihood the wheel studs will sheer simply through excess torque.
As for the corrosion problem under the stainless steel cap, if windy guns are NOT used, the cap remains close fitting, excluding all corrosion catalysts (water, air, dirt etc) so the nuts themselves do not corrode. If they do corrode, rust grows almost organically and does indeed swell the nut - just look at the rusty wheel arches on a late 90s Merc/VAG or similar and you will see big bubbles where the rust has formed.
Using a smear of copper grease on the threads of the fasteners and avoiding ALL use of windy guns (including removal of the nuts) will prolong the life of the nuts in the first place. Replacing the nuts with aftermarket solid nuts is one option, however the quality varies and the bright nickel plating on some cheaper nuts tarnishes and flakes off.
Sadly i've got a lot of experience of these type of nuts having run Rover 800s for many years - not relevant? The nuts are near, if not completely, identical.
The basic design of a steel nut with a polished stainless steel sheath over the top is definitely the same, the thread of M12 x 1.5 is the same and when the S Type was designed, Jaguar Land Rover were still (at least in part) part of the Rover Group and Rover had been using these Honda designed nuts for over a decade by then. I know Ford bought the remaining shares in JLR a little later but many things were kept the same.