Hi
@Tcm99,
I have the same tank and skimmer. There is an initial break in period. The bubbles will calm down after a few days and then you can set the collection cup to what ever hight you want to skim at. I personally skim somewhere midway between wet and dry. It's also possible your water level is too high. It is not mentioned in the documentation very well (at all). The sump section was meant to have a waterfall type motion. From the display portion the water flows through the baffles and falls into the outside filter sock/filter floss chambers. Then it flows down and under into the next chamber, back up, and then water falls down into the return pump section. I think I've only seen it described correctly in one of their tank documents (sorry I forget which one).
I mention this because if the water level in the sump area is too high the IM skimmer won't work correctly as it's been somewhat tuned for a specific water height.
Hope this helps. Let me know if you would like any pics.
-Richard