I haven't seen it personally with control arms, but it makes sense if your control arms are moving back and forth for a significant period of time, you're likely to see something ovaling out.
It's been a pretty common occurrence for it to happen in all sorts of places on the FSAE cars I've been working on for the last couple months. Mostly it happened with our a-arm bolts, because the half-shafts were broken are re-welded in the pit at last year's competition, so they're not balanced, and that lead to the a-arms wobbling around, which ovaled out their mounts, which made the wobble worse. No one thought anything of it until an a-arm sheared its bolts and the car hit the ground. Hard. We also had issues with the rear tie-rods and the aluminum sprocket.