I have noticed that too, but the built in adjustment has a fixed range. If you move the foot pegs to the upper bolt holes (sport position) and loosen the shift lever bolt, it will rotate towards the rear of the bike. The geometry between the foot peg and shift lever stays relative, but is rotated upwards and rearwards, supposedly for a more sport oriented position.
I may be completely wrong about this, but that was how my dealer explained it to me. I would personally like the shift lever raised about an inch straight vertical from where it is now.