Thats a little more gap then I see on the install of my TM.....
Yes that is the Heavy Weight model.
It looks to me like the plastic slide that goes in between the TM and the grip is working its way out a bit....
You could easily remove the metal end, tap the plastic friction sleeve part in a bit further, as well as the metal insert a bit further, then reinstall the bar end, make sure you use blue locktite to keep the allen screw from loosening after the procedure.....
If its working and it doesn't bother you, then leave it alone. Clearly there is more to the right side which has the cam, then the left side, which is basically just decoration and doesn't have any moving parts.
I don't use mine much on the Gen 3 with built in cruise, but I like how it makes the bars wider, and I wrest my hands way out there often when I'm long slabbing.
There are plenty of YouTube videos or pics on google showing both large gap and smaller gap, up to you to decide if you want to mess with it.