Yes to that change in jet size and getting the effect you want.
Its a really clever little design that will show the way if working correctly.
Screw too far in (likely less than 3/4) shows its "calling" for a larger fuel jet. The opposite, as you experience, too many turns out needed to get it balanced in mixture will confirm the fuel jet has too much flow.
Winding the screw further out drops the vacuum (negative pressure) imparted on the fuel jet, to then pull less fuel up out of float bowl.