The tidal bulge - rock or water - is a compromise or balance between tidal forces and the gravitational forces of the planet’s mass. If the planet were all water (or some similar shape) my gut instincts about physics tell me it would be an ovoid.
The question is - how pronounced? Significantly egg-shaped, or only say, a kilometer off in a diameter of 12,000km? Because with a more distinctive oval shape, gravity will be significantly stronger in the equatorial band, being closer to the center of mass (hence the poles in vaccuum of Jinx).
If gravity varies, then my inclination would be to suggest that in fact the poles would be water, since the densest material is pulled closest to the center of mass. (On earth, the core is mostly iron, while the floating crust mostly is that greebly crud of silicon, carbon, H2O and other lighter scum.) You could end up with a world that very quickly allowed all the water to run up to the poles and then evaporate out into space.
If the ovoidity was not too pronounced, I suspect the actual geography of the planet would depend on plate techtonics; again, the impetus of plate techtonics would probably be upwelling in the poles (lighter stuff pushed out to the poles) and subduction in the area of highest gravity, the equator. Just sayin’
Also, the limit to tidal forces is IIRC called “Roche’s limit” about 2.7 times the diameter of the larger body? Too close and the smaller body becomes an ornamental ring of debris - gravity is not enough to prevent tidal forces from disassembling it. Forward may have worked out the physics, but I have trouble finding his world credible or long-term stable.
Tidal force -
imagine a trio of satellites A-B-C evenly spaced on a connecting 20-mile long rod. They are orbiting a large planet, which we will call “earth”. The satellite in the middle (B) orbits at the proper speed to stay in a circular orbit. A is 10 miles closer so it needs to orbit faster to stay in that circular orbit - but is orbiting at the same speed as B. What happens to something that should orbit at speed X, but is actually going slower? It wants to fall inward. Similarly C is going too fast for it’s orbit, and wants to fly outward due to centrifugal force. Only the 20-mile-long rod, our analog to gravity of the second world, stops the pieces from flying off in other directions. The stable result is where the rod continously points to the center of gravity of earth.