Because there is a flexble coupling (most likely it is not rigid, unless we talk huge frame/power size and typically power gen.), one could assume that the turbine and compressor behave like rotordynamically uncoupled.
If journal bearing metal temperature increases significantly, this increases oil film temperature which in turn effect load carrying and damping capability of bearings. So I am wondering how come this does not reflect on vibrational readings according to your statement.
Could it be an instrumentation problem?
Has there been changes in process which increased loading on compressor and/or its speed?
Lube oil supply, any noticed change in supply temperature, oil quality (via sample analysis)?
Any changes in lube oil system parameters (oil return temperature, heat exchanger temperatures, lube oil supply pressure, etc). Turbine may be subjected to same as compressor but may accomodate better changes in oil supply conditions (e.g. different bearing design etc.).
Has there been start/restart of machine performed recently?
Small note: you mention "axial' vibrations, these are displacements monitored due to axial thrust acting on rotor.