Slipping clutch

So I've seen a few posts here regarding slipping clutches.
I myself have a 07 1100, with a shameful 11k on the clock.
I've usually sent my GRiSO off to service but as the last time I sent the bike out they overtightened the silicone valve cover gaskets and a few other odds and ends that made me reconsider bringing the bike back.

My symptoms are the norm, clutch lever grabs at the very beginning. Starts off fine but if I'm in stop and go for a while the smell builds and the clutch doesn't engage with much authority.
I've flushed the fluid (refilled to the tippy top of the observation port) and backed out the plunger on the lever to basically 1 full turn from all the way in.

What did I miss?

Hello,

I'll attach myself to this post with an additional question.
My GRiSO has now driven just under 30,000 km.

At the last two service measures, the clutch fluid had to be URGENTLY renewed, so black it was. Clutch work is ok. But why this massive black broth in the clutch?
Is there damage on the way?

Greetings
Holger

All CARC bikes and V11's are murder on their clutch fluid. Change it every service or every year.

With the slipping clutch the plunger has to be wound out far enough to allow the piston in the master cylinder to return completely to expose the priming port to the reservoir. If it can't the hydraulic system remains closed and as the fluid heats up and expands it's only option is to move the slave piston and start preloading the clutch causing it to slip. The plunger should be wound out until you can feel the tiniest bit of free play before the piston starts to move. Too much and you won't get sufficient lift to engage the clutch fully. Too little and you get your current situation.

2 valve bikes that use the venerable twin plate clutch are particularly sensitive to this as even if correctly adjusted there is only a small window for correct operation. Also few of them will function properly with the lever span adjusted to its narrowest setting. It simply doesn't give enough lift and the clutch will tend to drag, even if adjusted correctly.

I'll keep fiddling with it, I did start backing out the plunger rather conservatively the 3 or 4 first times.
After swapping out the DOT4 for the second time in a month. I said "screw it" and decided to put it all the way in and take it out 1 turn...
As for my fluid, my first pour was honey with a slight grey tint.

Continuing to operate it in this condition, what are the consequences ($) of running it this way for the time being?

I currently have my levers out all the way, I assume the way to adjust the plunger would be with the reservoir cover off (fluid to the top of the viewing port) and give is the slightest, slowest squeeze and pray there is the tiniest delay before it violently shoots into my eyes?