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Mine is too. No idea why, but it apparently works with no problems. That was one of the reasons I secured all of my slugs with short lengths of line. When my original slugs, plastic, decided to go, they broke, and I removed the broken slide part from the slot.
Frank, I suspect it is to facilitate reefing. With the extra flexibility provided you should be able to pull the reef cringle down close to the boom to get a nice flat sail; otherwise the sail will tend to bunch up.
Notice: The advice given on this site is based upon individual or quoted experience, yours may differ. The Officers, Staff and members of this site only provide information based upon the concept that anyone utilizing this information does so at their own risk and holds harmless all contributors to this site.