Thanks all for the responses!
IVC, coming from other types of presses has me attentive to the depriming and im 100% certain that stacking primers isnt the issue. Im getting positive spent primer ejection and the swaging rod isnt crunching the old primer into the brass. I just double checked all the tabs this morning and they appear good to go though.
JMO - i checked that bolt this morning and it was snug. To be sure, i loosened it and resnugged it to see if it was just torqued odd from the factory. No change on the primer depth.
Midatlantic - i think thats the next step. Completely disassemble, clean, regrease, and reassemble the primer assembly