I haven't seen anyone mention this here, but just recently a story with shrinking process has been posted on a mind control erotic story site. The mind control and change elements are definitely present in this story, so if those aren't your thing it might turn you off a bit. I'm not into that sort of thing myself, but I think it's more of a minor part of this story, which is more focused on the protagonist's desire for living out her fetish of shrinking other women.
The story seems to be written with passion for this fetish, and I am sensing that more is yet to come.
http://mcstories.com/ShrinkingMachine/index.html