Micro tilt neck adjustment

hello, is it possible for the micro tilt neck adjustment in a 1981 Peavey T40 to just slip over time? When i got the bass, it was making a weird clanking noise at the neck heel, so i adjusted and tightened the micro tilt neck adjustment, this raised the bottom of the neck slightly and now when i detune my strings, and tune them back up again i hear the same clank but its only when its getting adjusted to the tension.

Is this normal? o_O:help:
 
No, that's not normal. That means that the inboard neck screws are loose. Did you forget to re-tighten them?

To use the micro-tilt adjuster, first loosen the inboard neck screws a turn or two. With the strings up to approximate tune, and the bridge saddles at about mid-height, turn the micro-tilt screw to bring the action (at the heel) to roughly the right height. Then re-tighten the inboard neck screws. Proceed with the rest of the setup.

The micro-tilt adjustment is a rough adjustment to get the action and the saddle height in the right range. Then, you set the relief with the truss rod, then fine tune the action with the saddles. But, when you are finished with the micro-tilt adjustment, all the neck screws should be tight.
 
The 4 big screws on the plate are tight, and i know how to adjust the micro tilt neck, its just that everytime i go to detune my strings, it makes this clak noise at the neck when its loosing tension and again when its gaining tension... im guessing these parts wear down over time right?
 
No, I can't see how the parts would wear down. What would wear them? And still, if you are getting a clacking noise from the joint between no tension and full tension, that means that there is movement between the neck and the body. And that means that the 4 neck screws aren't clamping them together.

It may be that the screws are bottomed out in the holes in the neck, but still aren't clamping tight on the body. Effectively, the screws are a bit too long. If that's the case, take the screws out and grind 1/8" off the point. The screws don't need the point. Put them back in and tighten them down. See if they now clamp the neck to the body.