I just read about that adjuster in Guzziology last week. Dave said to loosen the jam nut and turn the bolt one flat. He didn't know which direction would affect up, or down. But he said it will affect the distance the shifter moves on an upshift or down. You can reduce the distance required on an upshift (or downshift) by adjusting that bolt.
He also said to not adjust it move that six flats - I guess that would be one turn of the bolt. I'm guessing if it increases the distance on way, it will, at the same time, decrease it the other.