Hey Wayne, I can see you've put a lot of thought into this, and for the most part you're on the money. I've been studying this for a while too, we'll hopefully have a working prototype leg in Julien's build thread soon incorporating all the known concepts. There are some issues with the original design, you can see that sometimes the pistons didn't move at all, got stuck, or in one case one of the round rods the square ones telescope over got sucked up inside the cavity. I've figured out a way to get quite a bit more vertical travel in the pistons than my first drawings so I'm hoping it'll achieve something maybe even a bit more consistent than ILM's design.
The lever/armature lock is put there for looks mostly, just to give some added movement/interest to the legs. But yes the mount for the upper thigh is off center, the "pin" you speak of is a slotted machine screw.
Looking over your pics, I wish I'd had the shot of the single leg standing up (next to the big foot) earlier on. I did stumble on a copy eventually, but it's much blurrier than yours. Do you remember where you sourced this pic from? Maybe I could track down an even higher res version. The armature is really a minor miracle of engineering and serves as a testament to the genius of Jon Berg.