Just to clarify a couple of aspects of the valve settings:
The Eccentric/Crank Arm should be at 90° to the Main Pin on the wheel. The apex of the angle is the center of the Axle. See the drawing below for where that angle is measured!
Another thing that maybe has not been stated clearly is that the eccentric crank arms should both be in the same direction from one side of the loco to the other and there is always some confusion when you look at one side of the engine and then turn it around to view the other... You have to remember that in doing so you have just reversed the direction of "forward" so, Clockwise and Counter-Clockwise (or Anti-Clockwise for my friends across the pond) is a poor choice for a description! To eliminate any confusion, if you roll the engine forward, both eccentrics should either be Leading or Lagging (following) the Main Pin. If the Valves are "outside admission" (like your engine is) then the Eccentric should Lead the Main Pin. (NOTE: The drawing implies that the front is to the right, because the Main Rod goes off in that direction, thus it shows the Eccentric Arm "Lagging" the Main Pin, which is the opposite of what you want on your engine. I made the drawing for my 'Valve Gear' article series in "Steam in the Garden" magazine [2006] and I drew it that way because it is easier to "SEE" the angle that way instead of obscuring it behind the Eccentric Rod.)
When you roll the engine and watch the valves, they should both move the same amount (but are separated by 90°; i.e.: when one is at full travel in one direction, the other should be in the middle of its travel) Both should expose the steam passages to the cylinder an equal amount in both forward and reverse.
The distance traveled is controlled by how far Lifting Link from the Reverser Lever (in the cab) moves the Radius Rod (from the Valve to the Expansion Link) in the Expansion Link [that slotted, curved doohickey that is being wiggled by the Eccentric Rod as the wheels turn.] (How's that for technical jargon!)
When the Radius Rod is in the center of the Expansion Link the Valves will move only a very small amount and when the Radius Rod is as far as it will go in the Expansion Link (either up or down) the Valves should move the maximum amount.
If either Eccentric Arm has slipped in its attachment to the Main Pin then you need to set that first.
If the Lifting Links are not moving the Radius Rod to the same position in the Expansion Link then those may also need to be tightened to the common axle they are on. When the Reverser Lever is in the middle position, the Lifting Links should put the Radius Rods in the center of the Expansion Links.
If you get all these settings right, and assuming the manufacturer made all the parts right, then you do not need to know more about Valve Gear.
By your latest test, I guess it seems like you are getting "blow-by" in the Cylinders. Time to pull the front Cylinder heads off to see if you have a problem with the Piston Heads and Rings.