I tend to think the same, but Josh at image racing said its only to keep the spring from moving around and the following is what shadow191 wrote in another thread:
The shock shouldn't be where you set the preload. On the front, the shock is used for height adjustment. You turn the threaded body up or down to adjust height. The 2 locking collars are for preload. On the rear, it's different. The spring isn't sitting on a threaded body so adjusting the locking collars will adjust preload and ride height. Adjusting the shock body on the rear will not change the ride height. It will adjust the limits or your travel, ie. mine are set so low that when I jack the car up, the wheel doesn't sag that much because I've topped out the shock and that prevents the spring bucket from coming any lower.
Best way to imagine it is this. On the front, if the spring was a solid 8" long pipe that did not move, you could still raise and lower the front end by turning the threaded shock body on which the spring sits. On the rear, if the spring was a solid 8" piece of metal that did not move, adjusting the shock body would not raise or lower the car since the spring isn't sitting on that shock body. Rear isn't a true coilover.
Don't sweat the preload too much. It will just minimize any clunking noises, but it doesn't really affect performance. Some of the hardcore stance guys remove their rear locking collars entirely on the G to get lower. The shock prevents the spring from falling out. On a previous car, I had Ground Control coilover sleeves. Since they just sat on a shock, i couldn't preload them, turning the collars affected ride height. Mine were set very low (so low that when I jacked the car up, there was about 4-5" of gap between the spring and top mount. I could remove them without a spring compressor. Other than some horrendous clunking noises on slow speed turns, no issues and I had those on for probably 50K miles.
Im so confused, if I were still in Florida I would just go to Josh's and have them set them up. Unfortunly I'm now in Lexington, ky and don't know of any reputable shops here with the knowledge to do it right!