Kevin,
You are exactly correct. After reading your comments about spring tention, I went to the basement to try something. I placed my weight on the arrow with the indicator shaft retracted. After the weight had settled, I slowly let the indicator shaft extend without spring tension on the arrow, just baely touching the shaft. Out of 6 check from a spino-matic arrows, only 1 arrow was over by 1 pound.
I have been working on this thing for three months, with out your help, it would have been chucked.
Thanks guys for your help