That's because:
"Unless I hear from K-tech explaining everything that is wrong with their shock - Do Not Buy - K-Tech Razor-R Rear Shock"
Was simply too long of a subject. (rofl)
Seriously though. As received, I just don't think this is a useable shock. Too many design flaws with the lack of preload provided, and silly tommy bars to make the adjustments. The absence of a torrington bearing is just cutting corners given the resistance that the spring offers. The tommy bars bend excessively from the torque.
People, take a look at a "normal" Razor-R shock. The adjustment rings have a HUGE number of threads for adjustment.
Now look at what I received. They flipped the position of the base plate and adjustment rings, leaving VERY little thread to adjust for preload because the base plate is at the END of the threads. I stand by my original assessment.
I have this shock on my fz-07 and it looks similar to yours where the threads are like that. I haven't adjusted the preload yet because of the crappy tools, but I thought adjusting the silver adjustment collars will actually move the black one up because there are no threads on the silver side I can see. I think and hope it will turn the black. I would try but it seriously is the biggest pain right now with the current tools so I don't want to adjust it till I have the new tool or when I get some help for setting the sag. Mine didn't come maxed out like yours so I didn't really notice and just installed it as is.