Glycogen isn't excess. There's a fairly fixed upper bound to your glycogen stores. In fact there's a whole class of glycogen storage diseases which are very life-limiting, all due to excess storage (inadequate storage would be lethal in utero). Calories burned through activity are by definition not excess. I suppose you could argue that in diabetics with blood sugar above 200, then yes, the sugars become an osmotic diuretic and they literally pee out the calories, but otherwise, excess calories go to fat. Fat is the ultimate, infinite sink in this equilibrium equation.