My impression is that second order effects of a surrounding sphere exist, but require the sphere to be rotating or otherwise accelerating to be detectable. It's possible to interpret this in terms of Mach's principle, but it's also possible to interpret it just as frame dragging.
If you are just sitting inside a hollow sphere that isn't rotating or accelerating, you won't notice much. If you have communications with an outside observer outside the potential well, you can notice that your clocks are ticking more slowly than his.
If you really want to, you might be able to interpret the more slowly ticking clocks as an xxxxxxx decrease[edit] in mass or energy, though I don't think I've seen this done. One way of looking at this interpretation is that energy and time are conjugate variables, so rather than regarding t slowing, you could regard t as being constant and E increasing.
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Another way of looking at this is to look at the definitions of the SI units. To define time and distance, all we need to do is to take some cesium atoms along with us. We can use them to define our local time and distance standards.
To define the unit of mass, we need to take a replica of the standard kilogram with us. Being deep in a gravity well, if the necessary symmetries exist to localize energy, we can say that the standard kilogram is "lighter" in terms of total mass/energy as compared to the same standard kilogram outside the potential well.
Thus if we compare units with a distant observer who is not in a well, we find - clocks run slower, distances are shorter, masses are lighter.
But this is all a constant difference of scale - everything is getting "smaller" by the same amount (time, distance, mass). This sort of unit change (a change in scale) doesn['t have any clasical physical consequences.
We don't have a theory of quantum gravity at this point, but I would expect that a measurement of the fine structure constant would be the same inside the sphere as out, so that quantum experiments would also not be able to detect such a change in scale.