Yeah, from dim memory it seems to me a 5 kHz XO to a super tweeter was required. There's nothing conceptually wrong with a screw on driver, but if there's a poor line up with the horn throat, then extreme HF response suffers, another reason to use a super tweeter.
Adapters are almost always a compromise since they typically don't go 'the extra mile' design/manufacturing wise.
Altec's thick cardboard gasket really messes with its HF response. Bell Labs/W.E. got it right originally with a screw coupling collar and I don't understand why it wasn't universally copied since it's a common pipe fitting in the public domain, ergo can't be patented.
I've assembled many a University branded system and never seen a floating collar, so have no idea what you've got. Normally, you just screw the driver on until the rubber O-ring is lightly compressed and it's one with the horn.
GM





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