If holdfasts depend on serrations, or roughness, then every time you set them they will cut the hole they are in larger. Serrations work with mechanical hold fast like the LV with the knob, because you can detension them before every move.
One of the mags had a whole big thing on testing all kinds of hold fasts, and which were best. After reading that, I made up my first blacksmithing project, a holdfast, and it worked perfectly. Basically it is something you need to tune for. you have depth of top, size of hole, and the angle the head meets the shaft of the holdfast/pad angle. Plus finer factors like the surface finish and the spinginess of the material in the holdfast. Basically the trick was to simply make one up, then try it out. Then adjust the angle till it worked properly. Of course the missing link for retail, is you probably can't adjust it.
I am not too familiar with that model, but it sounds like the hole is too big. It really pays to have the exact same component dimensions that the tool was designed for.
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- HoldFasts from LV not Holding