The modulation is adjusted by tilting the pump head towards the engine.
You'll need a timing kit to be 100% that static timing position is achieved.
There are two nuts on the flange where the pump bolts to the rear of the timing casing and one bolt down on the end of the bracket on the rear of the pump. I've not yet gone through this myself so I can't be precise about the details and I wouldn't advise it without looking through rave for the correct process.
The modulation being out extends starting an engine in a warm condition and this is what leads to a hot start mod that fools the ecu into thinking the engine is cold on every startup and turns the glow plugs on.
The pump can cope with a certain amount of modulation upto a point.
If you have buzzing while your on diag there may be a problem in there but as i say, this is where my experience on the pump is starting to thin out.
@wammers the resident wizard on the pumps could shed some light with his experience.