Axle shafts can move in and out of CV joints, but I can't remember an axle doing what you described. I'd be tempted to take the axle off and see if the retaining clips are still present at the ends of the shaft, securing the CV hub. Older Bentley manuals, perhaps available cheap at used book stores, have nice photographs of CV joint disassembly and reassembly. CV joints all look the same, basically, and many are virtually indistinguishable. The photos will look like your joints.
USE a torque wrench when tightening fasteners on rotating parts. The reason is because it's not so much a question of coo much or too little torque. The reason for using a torque wrench is to get them all EVEN. Then they won't back out. I believe the bolts holding my brake disks on are torqued to only 18 lb-ft.
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'83 SC
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