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This it one of the most common issues / failures that occurs.. It's due to the fact that the arm has cast splines and most people who do there own maintenance don't check it. Wouldn't surprise me if some shops fail to check it at sevice.. Why does it need checking? Well the cast splines on the arm, don't fit the splines on the shaft perfect. With the shift lever mounted to the front of the primary and the motor rubber mounted, the motor bouncing feeds back though the shift levers and rattles the arm loose.. This arm should be checked on first service (along with spokes if you have them but that's another pet peeve). If you catch it early enough all you really need to do is retorque the bolt.. When they get real loose you can recover by removing the bolt, cleaning or replaceing and adding a lubricant to the threads (I use blue LT) and under the bolt head (grease).. As you torque the bolts you will feel it seat on the arm and start to get tight.. You need to continue on and continue tightening the bolt, it will feel like it's not getting any tighter for just a little bit then start to need more torque. At that point the arm is finally clamping on the splines and the lever should stop moving on the shaft.. You can still go a little tighter.. If you want use the TQ spec in the book..
Now that you have the arm tight ride it and check after a few hundred miles.. It can come loose again. The idea is that the soft metal in the arm needs to reform around the hard metal splines on the shift shaft. Once the softer metal has grabbed the shaft with very little missing contact area, it will stay tight. Still it should be checked at the service intervals.
It's a common problem on Harleys, my 99 Evo Softail had it. There are few good write-ups on the forum on different ways to fix it. The working area is small, but it can be tightened.
I went to harley today and bought a new bolt and arm. Cost me 25 bucks. I got home while the bike was hot, removed the bolt using a 1/4" allen on the end of a ratchet. Then the arm came right off. It took longer to get the bolt out. I installed the arm, and bolt and everything is tight. Total time was about 20 min. Very happy it was easy and only cost me 25 bucks.
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