After filling the CF5 yesterday with the first batch, I was able to back off the clamp a few turns and rotate the racking arm no problem. Thanks for everyone's suggestions.
Now for another quick question. How are people generally filling their CF with wort? In my Fermonster, I was able to splash the wort into it from by BK, close it up and shake the hell out of it before pitching yeast. Yesterday I filled the conical, pumping in through the dump port and then hitting it with some put O2 (about a minute of moderate flow I'd say). The only reason I didn't fill from the top was I didn't have a hose long enough to get to the top (easily remedied issue for next time).
i personally just leave the racking arm in the down position all the time. dumps will drop material down below the intake level and when i keg, i run the first 8 oz or so into a bucket to clear out anything that may get into the tube. no plugged keg ports yet, even with crazy dry-hopped beers.
i fill with wort from the top but you nailed it, need long enough hose. i didn't have one but got one of those male-male camlock 'jumper' fittings so i can connect two hoses and get enough length. i place it in the cooling coil opening and drop the coil in, the lid keeps the hose in place while filling. hose is as high as possible in the conical to maximize splashing as it fills but i still hit it with oxygen before adding yeast.