Hello, Thank you for the response. The pins are reused from the original knife on this one. I was also thinking it was play, first on the spacer side where the strike occurs and then on the blade tang side. I went a little tighter on the peening, nearly too far now but still okay. No improvement though. Quite mysterious.
I was getting so frustrated because the striking/catching was causing interference with the combo tool. I nearly tore the knife apart to investigate, but decided to reprofile the blade to be almost sheepsfoot. This raised the cutting edge up and solved everything. So mystery not solved, but remedied. I am leaning toward warped/ distorted liners/springs because both times this happened the knives were older and well used.