Its a cinch to do Matt...you don't have to move the "hole" position but you can adjust the rod downwards to lower or upwards... I have actually removed one side of my rod and just manually move the lever up or down when I need to raise or lower mine (the lever pretty much stays where I leave it on mine so I haven't connected the lever back to the adjustment screw on one side of it but retained the screw and nut on the screw for when I do decide to attach the lever back to the screw).
I only did it that way because it initially would take me forever going under the car and coming back up to step back far enough to notice the adjustment (which I could barely notice) so I basically disconnected it and while my fiance laid on my creeper, I had her gently move the lever in the direction I wanted the rear to go until I liked it and a full 20 seconds later all was done the way I wanted it to look. Haven't had any problems yet.
Bottom line...do it any way you wanna but I wouldn't worry about the "holes" just the adjustment screws to move the lever up and down. Hope this helps you out some.