You may experience a little more "Play" in a Columbia rear end then a convential, but I do not know if I would expect as much as a 1/4 turn. You may start with draining the oil in a CLEAN pan and see if there seems to be metal or other debree in the oil. If everything looks as you would expect, then I would re-fill it and go for a ride.
A WORD OF CAUTION. DO NOT use HEAVY GEAR OIL!!!!
Use 75W-90. Fill it up to the bottom of the fill hole in the COLUMBIA HOUSING. Then, with the rear axle on Jack Stands, run the car in low gear at a fast idle for a few minutes while the Columbia is in DIRECT. Check the oil level and re-fill as necessary. Run in OVERDRIVE for a few more minutes and again re-fill as necessary. Put the car on the ground and go for a short drive. If the Columbia works like it should and sounds fine, I would say everything should be OK.
Short of taking everything apart, it is difficult to really tell where the play is coming from.
Keep us posted as to what you find.
Chris.