That run away down hill symptom sounds like your sprag clutch in the centrifugal clutch isn't working.
The clutch adjustment is adjusting the linkages between your shift lever and a plate clutch. The plate clutch is to stop the gears getting mangled when you do a gear change at speed, when the centrifugal clutch is locked up. When you move the shiftlever up or down it disengages the plate clutch.
When you are going down hill the plate clutch and then centrifugal clutch are both transmitting the over run to the engine giving engine braking. One the bike slows enough that the engine revs get near idle speed the centrifugal clutch lets go, and the bike would start to run away down hill(as your's is), so to prevent that run away situation they have a one way ratchet(sprag clutch) in the center of the centrifugal clutch that lets the gearbox shaft turn the engine whenever the engine is rotating slower than the gear shaft. That gives you engine braking right down to a stop.
The way to test the sprag is put the bike in gear with the engine off and try to push it forwards. If the sprag is working it will try to turn the engine over.