Canning with water bath
The cause of the lids bulging during processing is pressurized air trapped in the jar. This happens when the lids are too tight (not leaving sufficient head space can also be a factor). The bands should only be finger tight - From FreshPreserving.com


  CLEAN mason jar rim and threads of jar using a clean, damp cloth to
  remove any food residue. Center lid on jar allowing sealing compound
  to come in contact with the jar rim. Apply band and adjust until fit
  is fingertip tight. Place filled jars in canner until recipe is used
  or canner is full. Lower rack with jars into water. Make sure water
  covers jars by 1 to 2 inches.


Creased or dented lids have a high failure rate, as such, storing them on the shelf would not be considered safe.

To be safe, the jars with buckled lids can be reprocessed with new lids within 24 hours, refrigerated and treated as if open, or the contents could be frozen.