Looks like the flood gates on the SMTP queues were opened yesterday and they are only shut temporarily.
I had made a configuration change in how the forum sends email a few months back from PHP to SMTP, which solved the no email being sent problem that we were experiencing.
Somehow the suspension and resinstatement of our account triggered a flood of messages being sent from the SMTP queues.
The real FM here is that while the configuration change cured the email issue, apparently it did not actually cause any messages to be sent via SMTP! I was told by a GoDaddy techy today that absolutely no email had been sent VIA SMTP ever. Until yesterday. The queues were full with unsent messages even though those very same messages had actually been sent via the originally configured, PHP, method.
The hosting company limits outbound messages to 1000 per day. That means that as of today 2000 messages have been sent. There are 6873 messages still waiting in the queue!
At the risk of losing new messages I cleared the outbound queue so we should be back to normal as of tomorrow assuming some nefarious SMTP relayer does not gets a hold of our server.