Plants in photsynthesis produce O2 in quantities beyond their requirements, releasing excess into the surroundings. During darkness they do not produce O2, so must absorb some from the surrondings to meet their respiratory needs, but their output per 24 hour period exceeds their usage during the same period. That much is fact and well known. I would like your references for the requirement for "hence the plant is resting and readying itself for the next days photo period..." as I have no information on that at all, and remain unconvinced of its reality.
The aquatic plants I have used successfully under 24/7 light include Val, Hygrophila difformis, Anacharis, Aponogeton species and hybrids, and Java Moss.
I neither said nor implied that it occurs in nature, as it does not in the natural environments of any tropical plants (only around and beyond the Arctic and Antarctic circles), but then neither do glass boxes with artificial lights occur in nature.