I removed the retaining ring at the top of my Omega Enlarging Focuser (Peak Model II or model 2020 in some literature) eyepiece and examined it. The two elements at the top of the barrel are:
1. The top element is a biconvex lens. The top surface facing the users eye is a small male spherical radius (bulges outward noticeably). The bottom surface is a larger male spherical radius (bulges outward much less than the top surface).
2. The second element is biconcave of two different radii. The top surface is a mirror image of and perfectly matches the bottom surface of the top element. In fact, these two elements mate at this common joint when assembled.
If you try to install element 2 with the wrong surface facing up, their vertices touch and wont fit together (since the radii are different). Should you try to mismatch them in this way, tightening the retaining ring would likely damage them where they meet at the vertices.
Putting them together gently at the common spherical radius forms a perfect joint. When they are assembled correctly as noted and I view through the eyepiece, the reticle snaps into focus when the loupe is adjusted to suit my eyesight.
The remaining elements are farther down inside the barrel and not readily accessible.
I suspect that the top biconvex element in your eyepiece has been removed and it was assembled minus this part. When the retaining ring is snugged all clearance is eliminated, so there should be no "rattling" of the parts.
Without this biconvex lens the magnifier is useless. The top lens is too large in diameter to fit down inside the barrel, so there is no possibility that it could have been misplaced deeper inside the barrel. I believe the Peak Model II has been discontinued.
http://www.peakoptics.com/index.php..._id=63&zenid=2a52fc4a605a6fe90b1f2de14c093f60