UPDATES!
Pulled the ol 240 truck into the shop tonight to jack it up a bit for an off-roading excursion I have planned this weekend. I also just finished a lighting install in the shop last night, so I figured it was time to get down and dirty with some vehicle work.
So here's a little how-to: re-adjust your coilovers, as well as a long-term update.
Again, jack the car up and pull the wheels off. Chances are the coilovers have some road grit on them, so either blow it off with a compressor, brush it off with a soft brush, or douche the thing in WD40 or other penetrating oil, and wipe it all down with a rag. You're going to want to douche the thing in penetrating oil anyway (just to make it easier to move the collars around), so that's what I did.

Once you take the middle collar off of the spring perch position, you'll want to loosen up the lower collar. Mine was pretty damn tight, so I had to use a hammer in conjunction with the supplied wrenches. Once its loose, lock the lower collar with the middle collar (jam-nut style) and twist to rotate the housing to raise/lower the vehicle.
I measured how much housing was sticking through the lower mount (1.5-1.6 inches) so I can set it back later.

I backed the housing out of the lower mount until it was slightly under-flush with the bottom of the mount.
Ride height when I started:

Ride height when I finished (I just did the front):

I re-read my original review and noticed I said I went something like 15-20 threads into the lower housing when I originally installed everything. I definitely want to keep some thread engagement (probably 10 or so threads minimum), so I really wouldn't be able to raise the rear up much more than it is now. Not really worth the effort anyway. Maybe if I'm bored and some buddies want to see how the suspension works, I'll get under there and do it. The front has another inch or so to go before I'd be worried about it. Its pretty impressive how high you can jack the thing up and lower it down
Long term review.
I mentioned earlier that the car seemed to no-longer be level. That was measured in my old garage, which, itself wasn't level. Once I got the car on a flat surface, everything was pretty damn close to being perfect, so disregard my previous comment.
One thing I DID notice is that some of the threads are starting to rust a bit on the housing (but really not bad), and that one of the dust boots is cracked.

Overall, NOT BAD. If you live up north, you might want to keep some grease on the threads, or periodically paint them (not too much paint though... don't want to clog up the threads!).