Could it possibly be differing amounts of movement between the wood on either side of the joint? Sounds true to the nature of wood. I’ve also seen it on segmented bowls as they age, the wood is still moving a little (shrinking) and the glue is not.
I'm an only familiar with my Bessy fence. So, this may not help much. My cam lever actually bears on a steel "finger" that swings down to a position between the cam and rail. If I remove the fence and then put it back on, sometimes the finger does not swing down properly and then my cam lever will do what yours is doing. Since your fence is new, maybe paint or something is causing your "finger", if it has one, to stay up. Check it closely to see if there should be something between the fence rail and cam lever. Could you have a missing part? Do you have a parts diagram?
I checked a parts diagram and it looks like your system does have the "finger" I mentioned. That finger should also have a plastic or nylon face on it. If either of those are missing, your cam will not lock down tight.