Tuning HUMA Regulator on Diana Stormriders - not working?

I have two stormriders, a .177 and a .22, as project guns. Put HUMA regulators in both and neither is working correctly. The shot strings seems to be exactly the same as when unregulated. They start out ~920 fps, climb some to ~960, then begin a pretty uniform drop off over the next 30, or so shots. Both guns are the synthetic stock models without the gauge on the under side of the stock (so no pressure gauge block to remove). Thoughts?
 
I really need a dunce cap. When I disassembled the rifle, I noticed the o-ring on the regulator end of the plenum was missing. (probably fell off when I pulled the regulator to adjust it). With the O-ring missing, the regulator is just bypassed.

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