For the loose lever in the open position:
This is an universal flaw of almost all PAM reps (I just saw a very recent 005 unaffected). It is not dangerous, but it makes for the easiest way to tell a rep from a gen.
It is due to the fact that the rep lack a rubber gasket around the lever's pin, while the gen have it.
To fix it you have to remove the lever's pin and the lever, slightly enlarge the lever's hole where the pin goes into, put a small segment of a plastic tube (e.g. a piece of electrical wire insulant) into the lever's hole, and reassemble the whole thing. The insulant will replace the missing gasket.
An easier but less durable fix is made by removing the lever's pin and lever, filling the lever's hole with silicon glue, reassembling the whole thing, and leaving all untouched 24 hours in order to leave silicon to harden. In this case the silicon will replace the missing casket.