the carb in question has externally adjustable floats via a screw and a nut on top of the float bowls.

i'm pretty sure this carb has side hinged floats.

my question is, what makes the adjustment, and what locks it in place?

the reason i ask, is i can tell the floats need adjusted because the carb spews raw fuel out of the vents of the main body. i'm just not sure how to adjust them.

 

The screw in the top locks it. loosen it and adjust the nut.

It may not just be a matter of adjustment. Try it, but if it doesnt respond the needle and seats may be shot. Replace them.

 

the nut adjusts the float height, the slotted screw on top locks the nut in place. Make sure that you have no more than 7-8 lbs of fuel pressure otherwise fuel will flow past the needle and seat no matter where you set the float.