I am having trouble understanding what the compensation is for exactly, but I'm probably overthinking it.
It raises or lowers Z axis to compensate for the bed being too far or close to the nozzle?
My logic is just manually raise or lower the bed, but using the paper leveling method would make this difficult as well.
I also don't get how you're able to measure the distance of the nozzle from the bed. Do you stick your micrometer right down in there? I have pretty much the same micrometer, just never tried to actually measure the nozzle distance before lol.

Yeah I have been having the same issue with scraping and am printing a cube as we speak right now, I randomly threw a + 0.100 mm Z-offest in Fluidd dashboard and it's a bit better, now I'm playing around trying to get some macro photos of blobbing and other undesirable things. Mostly I just want to get some rad shots of the nozzle spitting out PLA but it's not an easy feat.