o_O

erm... no - that's part of the float mechanism, there's usually little need to mess w/it and it doesn't effect yer mix at all. Worst case is if it's bent down too much you'll just "run out of fuel" at wide open throttle, bent up too much and the float can hit the primer pin and not seal completely - making a puddle under yer bike as fuel pours outa yer carb lol.

The E-clip and it's setting is usually a fuel/air adjustment reference and it's to be found on the needle inside the carb's slide;





Moving the clip "up" (towards the flat end) leans the mix (more air/less fuel), moving the clip down (towards the pointy end) enriches the mix (less air/more fuel). Sounds like yer runnin' rich, no surprise lol - try the clip on the second notch down from the top and work from there.

Hope that helps

edit: BTW - when reassembling the carb, there's a lil pin on the inside of the carb that needs to line up with the slot on the slide, else it wont go back together/you'll break it/it'll stick;