Checking this again, the slack is probably in the linkage as Brian mentioned. One other Parker of mine shows some slack and another doesn't. Looking at parts diagrams and at a Parker I have the stock off of indicates the issue is likely the spring plunger/top lever recess having wear in the recess, the plunger tip or both. I suppose the plunger could have a broken tip, or the spring is weak or broke as Dean mentioned, too. It does not seem to affect function, so I won't worry about for now.
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