Dave,
"Oil canning" is when the metal expands/swells at a different rate than the substrate it is attached to.
Plywood, for example expands and contracts at a different rate than aluminum.
Since the aluminum expands more, but is still attached at the edges, it swells or ripples between the mounting points.
When an aluminum skin is floated, it is attached with minimal fasteners, and allowed to float across the majority of the substrate surface.
The aluminum still expands just as much, but since there are few mounting points, it is able to expand a little under the lip or edging of the trim that holds it on around the edges so that you don't see the swelling/rippling as much, if at all.
The use of a sealant/putty that can withstand the expansion and contraction of the metal, and itself allows the seal to stretch many many times, but not break.
What I see in your pictures offers three possibilities;
One is that the trailer body is unable to support its own weight and is causing the rippling from being structurally weak from poor construction methods (very unlikely)
Two, the structure is very weak and the metal has delaminated from water damage (possible, but not likely).
Three, the metal was glued to the substrate and the glue was not able to withstand the expansion and contraction which caused the metal to separate in that area (very likely).
The best "fix" would be to remove all the trim, windows, doors, etc. and finish separating the skin from the substrate.
Once freed up, the glue must be neutralized or covered with a barrier so the skin, old if not damaged, or new if it is, can be floated across the surface.
Nice looking trailer!
Is it new? If so, the manufacturer may take some responsibility, or at least be able to offer tips assuming that some of their other trailers have suffered so.
Several owners here on the board have also dealt with this issue, I'm sure they'll chime in soon (Sunday is always kind of slow...).
Rob
Waiting for "someday" will leave you on your deathbed wondering why you didn't just rearrange your priorities and enjoy the time you had, instead of waiting for a "better" time to come along...