tension screw on world class t-5
 

Does anyone know about the screw with a spring in it on the side of the T-5 tranny, the guy i got it from took it out thinking it was the drain plug.

Thats the reverse lever pivot. You'll have to disassemble the transmission to get the lever back into position. Shouldn't be too much of a problem for you since the trans is out of the car. Just pop the top cover, retrieve the pieces and reassemble on the pivot. Bet I've seen this done about 15 times over the years!