I noticed something was weird with the foot pegs on day one. They were both free but would not drop under their own weight. I had other things to fix and they were working just fine so I did not mess with them until last night. They are made out of the same 9/16″ diameter steel bar stock that every Nethercutt and Rokon I have ever owned are made from. They are retained with short 5/16-18 UNC set screws which does not seem very positive. All my other bikes have short bolts that can be locked into position. The set screws were loose when I went to remove them. The first screw came out kinda lumpy like it was side loaded. When it cleared the notch in the foot peg the peg popped out about 1/4″. Turns out there was a heavy die spring between the foot pegs. I put a green MK1 foot peg in the picture for comparison. New one on me. Not sure what purpose the die spring serves.
I figured it out.
After I had cleaned the set screws I noticed that what I thought was wear on the inside end of the set screw was actually a machined flat. The flat goes up against the notch on the foot peg and the die spring keeps compression on the flat of the set screw to keep it from unwinding. Loctite is not required to keep these from backing out. This also explains why the set screw felt lumpy when I removed it.
Uhh, I most assuredly learn something new every day.