Does Line Honing change the crankshaft's centerline?

The way I understand line honing, you shave a bit off the top of the main caps and then hone until the crank holes are perfect. But won't that make the crank's centerline a bit closer to the camshaft's centerline? If so, wouldn't that make timing chains loose and pistons sticking up into the cylinders a bit. Only a few thousandths, but still...

Exactly -YES . Depends on how much the machinist takes off the main cap mating surface.
I have always used a .005 under chain on blocks I had bored or honed , including 2 hemi`s , a couple of sbc`s , and the is one/ The 440 block I have now , the .005 under chain was so tite I had trouble getting it on/together . Its hanging in there just great .