when the pv rod is attached, the pv shouldn't move much at all, there is a bit of slop normally... if you pull on the pv rod vertically it can/will dislodge the governor assembly. when assembled properly, the rod should keep very minor tension on the pv, and the pv end plate will be against the stop
that being said:
carefully unscrew the nylock that holds the pv rod to the pv valve plate. then you can gently but firmly pull the pv rod back enough to rotote the pv plate out of the way. i use a spring puller.. try not to pull the pv rod vertically. this is what messes them up...
once the rod is unattached the pv should move freely/easily. if it doesn't it's time for a rebuild.
if you want to check pv actuation: remove exhaust, remove right pv cover, put the exhaust back on, and start it up. you will see the pv assembly move as you rev it. it should move maybe 90 degree (i think - can't remember - either way you will see it clearly open and close) then you gotta take the exhaust back off, reinstall the right cover, put the exhaust back on and you should be good to go.