I also have the same setup so I hope I can help.
I when hooking up my grapple I turn off the tractor and release the pressure in the front end loader as well as the 3rd. function by moving the stick around and pushing the 3rd. function switches. Then just plug in the hoses, start the tractor and test the 3rd function switch. The first time it took a couple of seconds for the cylinders to fill and open the grapple, after that it only takes a fraction of a second to open or close.
I saw what looks like an adjustment knob by the valve but I have not touched it. Can't help you there.
One thing to watch for is the hoses, make sure that they are long enough and tucked out of the way through out the full range of the grapple, curled back and dumped forward. Mine were short and I had to get an extension, I should of told the grapple maker that my hoses ended on the right side of the torque tube and I needed longer hoses.
Greg