Josh,
That is interesting. I tried basically the same thing back when I received mine. In my case though I could not get the string sufficiently relaxed in order to install the peep...even with the cables off of the rollerguard. I ended having one of the bolts pop out of the riser because I backed it out too far (I still haven't lived that one down with the rest of the staff...
).
I am going to have to check into it but I am beginning to wonder if they didn't start machining the riser to accept longer limb bolts. It would make perfect sense and hope they consider it in the future.