According to Shilao Portuguese government did approach China after Goa and asked what their though of it. Primer Zhou said something like "Yes we were watching, that's terrible performance from the Indian side, if they fight us like that they will be wrecked." The Portugese representative then was like no no the point is if China intends to retake Macau militarily then there's no need. Portuguese government is well aware they can't win so if there is intention just let them know and they're welling to hand Macau back peaceful and avoid a government crisis. Evidently Zhou didn't take up the offer.
Premier Zhou's intention was always to force the UK's hand over the 99-year HK New Territories lease with patience. This was well leaked/declassified over the years by Western sources. If he had forced the handover of Macau early, then it would have hardened the UK's resolve in holding onto HK, or sabotaging the Chinese interests (one of which was to grant HK independence).
By the time of DXP, they could reach that "compromise" which is basically there is no more British authority, but you can hang onto your business interests. (Not really a compromise as the UK were contemplating anything between military showdown, to lease extension, or some weird joint-administration idea.)