Brian,
I have the same experience as well - I've discussed this several podiatrists and neurologists including my recent trip to Johns Hopkins and they all seem to agree that the "sensation" results from tendon shortening due to a lack of innervation as MrsD noted. The lack of innervation causes an inbalance in the intrinsic extensor and flexor muscles of the feet and toes (these are the small muscles of the feet). I've been doing specific toe stretching exercises for several weeks now and I can actually see a little movement in my toes where before there was none at all - so who knows?

In any case I included a couple of links that may be helpful for some more details - these are specific to diabetic neuropathy but the symptomology is the same regardless of the cause.

physical signs of intrinsic minus foot
http://care.diabetesjournals.org/cgi/reprint/26/6/1945

magnetic resonance imaging of intrinsic muscle atrophy
http://care.diabetesjournals.org/cgi/reprint/25/8/1444

I hope you can find some relief I know it is aggravating at best!

Alkymst