John,
I used to have this problem also. I'd stripped my lathe down to refurbish it, fitted new clutch bearings, etc., and on reassembly found the clutch kept slipping. I knew, from my inspection of the component parts, that all should be well and assumed that the grub screw was just working loose. I carefully (so as not to lock up the hole thing and using a pin so as to place only the smallest amount in position) put some nutlock in the screw hole and adjusted the clutch as normal – problem solved.
Mine hadn't had a second locking screw in place and I wasn't aware of that trick at the time.
Hope this helps you.
Regards Tom