Since the averaging is "SMART": It's going to lean toward whatever it's programming finds the most critical.
Consequently: If the port side is stuck OPEN, that means the STB side never completely fills (no water reaches the STB thermostat at idle). The Starboard side gets HOT, and the PCM's "Smart Average" is going to report the OVERHEAT since it's the most critical (current) condition.
The "Smart Average" will often lean toward the STB side thermostat since it's the warmer bank in many cases.
But you're dead-on correct: If the PORT side sticks open, the STB side will likely get HOT.