Des,
All Davis sensor values can be calibrated, either in the console or, as is the case with the rain buckets, at the sensor. The adjusting screw for the rain bucket is 6% per revolution. However, speaking from bad experience, I would urge you to not adjust more than 1 revolution, allow several rain sessions to calculate the new offset and adjust again. If you say that 20% should be 3 1/3 revolutions, I'm afraid you will be way off (at least I was).
Good Luck,
George