All manuals for the Blade only mention a single adjustment for the rear shock's compression damping. Its located on the remote resevoir, and is adjusted using a flatblade screwdriver.

But that adjuster also has another rotating 'collar' around it with two wrench flats. Is that one also able to be turned to adjust compression damping?

Low speed comp is adjusted with a flat-blade screwdriver. High speed comp is adjusted with a wrench.

Does the CBR900 come with both?

 

No, they do not have both. The "collar" is for setting pre-load.

 

The preload setting for my shock is located on top of the spring, on the main body, not on the remore reservoir.

 

The Preload setting for my model is located on top of the spring, its a collar that you turn using a special spanner wrench.

The part I'm asking about is located on the remote resevoir.

 

Then I misunderstood what you meant. Post a picture of what you're talking about please.

 

 

Do not undo the round section with the 2 flats on it unless you wish to remove the compression adjuster from the shock (release gas pressure first), that holds the assembly into the gas canister. You should also have a rebound adjuster just above the bottom eye of the shock with a similar adjusting mechanism to the compression adjuster. They do not have Hi & Low speed adjustement.