Well they seem to have switched to releasing stored heat. Isn't that basically the El Nino / La Nina cycle?

Metaphorically relevant: https://en.wikipedia.org/wiki/Limnic_eruption

To vaporize 10^21 kg of seawater from ~4 °C to 100 °C would require ~10^27 joules, around 16 trillion Hiroshimas or ~2.5 seconds of the sun's output.

the oceans can adsorb a great deal more heat, but all the ice will melt, while the deap ocean water expands, from it's rather odd temperature ,that keeps it at the highest density possible, about .5% more than if it were just a bit warmer, so more warming will cause very significsnt sea level rise through several different mechanisms related to heat.