No. If the bearings are fine, use something to support the bottom of the pinion that is softer than the pinion (wood comes to mind) and tap the hex adaptor down until you can tighten the set screws so that the up and down play is gone. I can't recommend using any force on an aluminum clutch bell though
I could recommend putting the adaptor in a vise and tapping the shaft out of it, then using something like a Dremel or a file to remove the burr on the shaft so that a bad bearing could be removed or a new bearing could be installed.
also see
http://www.raptortechnique.com/clutchbell.htm