A significant number of MEC issues can be resolved by cleaning and lubing the collet. In your case, perhaps it's indexing at the right time but the collet may be hanging on to the hull longer than it's supposed to.
If you can't solve the problem, the folks at MEC can be very helpful. Give them a call.
This is an easy fix, I have had this a few times. What has happened is the black plate on the right hand side has come out of position. To fix it, you need two 1/2' box end or ratchet wrenches and three hands.
Using two hands and the two wrenches, back off the 1/2' bolts at the bottom of the plate slightly, just enough so you can move the plate toward you with your third hand. This may not be much, or even enough to detect. Making sure you keep the plate parallel to the base, keep pulling it toward you with your third hand, and tighten the bolts. When they are tight, crank the bejesus out of them, and try a reload or two. The machine should cycle at the right time now. Now go back and crank up the bolts again, so nobody will ever get them loose until next time the loader goes out of time.
The MEC manual gives all kinds of solutions to this problem, but according to the MEC help line, the above method is the most frequent answer to the problem.