Thank you for the positive response. Let's try to move forward on this problem.
You write that:" When the latch is engaged, The 2 dots are more like 9:30 - 9:45ish."
Rephrasing what I posted, those may be shaft PUNCH MARK positions at which the image transfer between the cylinders is NOT optimal.
LET'S STOP A MOMENT TO REALIZE THAT for your particular machine, the ideal stripes may be obtained BEFORE the 9 o'clock punch mark position is reached, and that they do not both have to be off from the 9 o'clock position by the same amount. Different degree of wear in the various parts involved may result in a correct position for the punch marks that is not exactly as shown in the diagrams.
Now, from studying the diagrams, are you able to figure out that screws need to be loosened so as to allow the rotation only of each shaft,while maintaining the assembly in the latched position? If not, say so, and we can try to help you with that.
For one thing, work with the power disconnected for safety. Also, it may be that you will need to turn the press by hand to a position where the stress forces are less, so that you can make the needed moves for each shaft without hurting yourself. Work on one at a time. For each, shaft note the direction and amount of the needed move, so that when the press is put again in the position at which the latch is engaged, the punch mark will be near to what is shown in the diagram. You may need to repeat the adjustment for each one in small amounts until it is were it should be. Bear in mind that the stripes are the criteria, and that the diagrams are only a guide.
Then try the stripe tests previously described. First get the plate to blanket stripes correct. Then proceed to the blanket to impression relationship, and again proceed in small adjustment moves.
Given your bipolar condition, please read this message over several times for comprehension, and proceed slowly. I imagine that this is very challenging for you.
Comments an further input by smalloffsetpressexperts are more than welcome at any point.
Al