Does this help? This fellow discusses alignment:
968 Timing belt tensioner problems - Rennlist Discussion Forums
From his second post: "So after all the testing and the one possibility that the o-rings help to keep it lined up and they could be worn, all I had to do was put it together and make sure the tensioner arm is sitting in the right position. The pressure of the hydraulic tensioner is holding it in place after I pulled it to the correct alignment. "
Was the tensioner pulley installed with the flange on the correct side? Good luck.
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1988 Silver 924-S Original owner
Porsche 924S: The 944's cheaper, faster little sister.