Quoted from RJW:The magnet can be adjusted. However you may have to remove the assembly and put it in a vice
or heat it up to get it to move. My Spidey had so much blue loctite on it, it was impossible to get
it to move while it was in the game. Maybe yours isn't as bad. Good luck.
+1 on that for me. I ended up taking it out as well using some lube and it took some real effort to get it to budge. If yours is anything like mine was you will most likely have to take it out to be able to freely adjust the magnet height. Good luck.