If its loose, grease aint gonna fix it, but $5 bucks for a new spring and 5 minutes to install will. Part # 49725-07A

 

Same is happening to me. A new spring has not done anything to improve it. I looked at a couple other 2010 Ultra Limited's and they don't seem to be that sloppy. Upon further review they sit tighter in the mounting bracket. I'm not sure why that is, could be wear I suppose. I'm going to buy a new kit with a bracket and see if it improves.

 

FYI, but older bike use a jiffy stand bumper that is attach to the bottom of the frame.


When you put the bike up on a lift, it will roll the bumper up against the primary cover on the frame, and you need to pull it back dow, so the jiffy stand seats against it in the up position.


As for the jiffy stand spring, they go soft over a while, and as stated, cheap to replace as well. Hence if the jiffy stand does not hold tight against the bumper, then it time to replace the spring.
The trick to replacing the spring, remove the top jiffy stand nut, pull the top plate, and this allows the jiffy stand to pivot forward. With it forward, pull the old spring, install the new spring with a slight amount of grease on it, then pivot it back to put the top plate and nut back on (only torque the nut to about 30ftlbs). Also, when you have the old spring removed, drop the jiffy stand out, clean it and the channel, apply new grease to the shaft and channel, and put it back in. Antiseze grease will be better/longer, but bearing grease works too (just need to clean and re-grease a little more often).
Also, when you pull the bike off the stand, make sure to rotate the bumper stopper back down, that the bike lift rolled it upwards against the primary cover.

Note, may need someone to hold the bike up the first time as you adjust the bumper, but once you get a feel for it's needed angle down, piece of cake to pull it down as you pull the bike off the lift and have it on the jiffy stand.

On some of the newer bikes, the bumper is on the jiffy stand instead,