How to change the contact point: swivel the clip, which holds the contact point, using a small screw driver instead of your finger nails. Position the new contact point and swivel the clip back into place. Starrett model 711 Last Word indicators have a contact point which swivels on a ratchet. Sometimes the ratchet doesn't fit well and the contact point will cause the lever arm to jam. You'll have to try another contact point. Sometimes the pivot screw protrudes too much and rubs against the contact point. Again, try another point until one fits. For proper operation make sure the reversing lever is fully engaged up or down and that the contact point is properly seated in the ratchet. (see contact points)
How to change the crystal on the Last Word indicator: remove the chrome bezel by prying it off with a screw driver and replace the crystal (see parts list). If your old indicator still has a wire spacer, throw the wire away. The new crystals don't need this spacer. A pair of jeweler's pliers will help you squeeze the bezel back into place.
If the indicator hand jumps on a regular basis, try de-magnetizing the indicator. If you don't already have one, a small demagnetizer can be bought from most supply catalogs. Spinning objects and motors can induce magnetic fields in the indicator. If magnetic fields are a problem in your shop environment it may be best to switch to a non-magnetic indicator. Mitutoyo, Bestest, Compac and Interapid are all suitable alternatives.
If the indicator hand hangs up on occasion, just tap the indicator and the hand will probably return to its normal setting. Don't let this upset you if it happens only occasionally. We're talking Starrett here.