I would trust more the torn edge, and never the printed design which is usually never printed square.....
and yes the fabric can be pulled back into square by pulling on opposite points......
my personal best advise is doing spend too much time on this, just the best you can do with a mininal amount of time. Squaring up the finished blocks is so much more important, and sewing a true 1/4" seam.
I personally like to have my blocks finish oversize, so I can square down to a perfect finished size.