Resurecting this thread in hope of help arriving? The trim ring on mine does not even move. SHould it. If yes then what?
Since there doesn't seem to be any info regarding this online. Let me share my personal experience figuring it out on my own.
Just as a warning to anyone who is thinking of attempting this instead of taking it to a professional repair shop, this can permanently damage your camera if you mess up. Damages could range from cosmetic to rendering the camera inoperable. Proceed with a healthy dose of caution and at your own risk.
For the vertical alignment. You do have to unscrew the trim ring on the window closest to the shutter speed dial. Mine was extreamly tight and I ended up using a c-clip remover plier to GENTLY grasp the trim ring and loosen it. I'm sure there are purpose built tools for this but if you are gentle, you can get away with improvising.
Once you have the trim unscrewed and removed, you will see 4 notches located around the glass element. You will need to get a high quality lens spanner wrench that can close down fairly small. A lot of them only go down to 10mm and that will not be small enough. Try to find one that will go to 0mm. If your spanner wrench is not high quality and is loose/wobbles around even a little when tightened, I would advise you stop here as one slip can scratch or potentially crack/break the rangefinder lens.
Now for how I adjusted it. I just took some painters tape and placed it on the wall in a + pattern, focused my lens until the horizontal was in line, then proceeded to adjust the vertical. You will set your spanner wrench to where it firmly slots into two of the notches and turn clockwise a very minute amount and check your alignment. If it diverging more than before, then counterclockwise is the direction you need to go. If it is getting closer to alignment, you are on the right track. You should not have to turn the lens more than say 10-15 degrees of rotation, and if you are turning it a lot, then you could potentially be damaging things. Small adjustments with frequent checks is the name of the game. Once you are happy with the alignment screw back on the trim piece by hand. Do not over tighten or use tools as the treads are made of polymer and can be stripped easily.