I changed oil in primary and found traces of very very fine glitter (METAL) in oil ,I took a long look in primary chain inspection access and all looked fine for what I could see . when I bought this bike I was told that the tranny had been totaly rebuilt about 800 miles back at BROWNS Cycle in dallas.is it time to worry,should I pull primary cover off and take a look or is this normal???

 

There are always some metal but not much. What metal: brass/bronce, steel (magnetic) or aluminium ? that helps speculation where it's coming from.

 

looks like steel,very very fine and a small glob on drain plug magnet

 

It may only be a case of the previous owner not changing the oil as often as he should have. Wear happens.

I suggest you run the bike for a week or so and then change the oil again. Do this while the bike is warmed up so the oil drains better.

Refill and see what it looks like the next time you change it.
If you still find a lot of metal then you may have a problem in progress........... pg

 

I was back in primary inspection and rechecked tension on chain ,on last check I was pushing down on chain,did some figureing later and some reading found out the way to do it is to lift up on chian.I have about 3/4 inch to 1inch lift.I adjusted in all the with and no change is it time to change shoe??

 

I would take a look at the shoe. You should be able to adjust the chain where it is (too) tight. Sounds like your shoe may be worn out.
Your present adjustment of the primary chain is on the loose side...... pg