It appears that my 700R4 locks up as soon as it goes into 4th as I don't see a reduction in RPM. When in 4th and I slowly speed up, it does not have that RPM bump, which I assume verifies that its locked.

Is this a problem and/or ways to change it?

Thanks

 

what year 700r4? have you adjusted the tv cable?

 

It's also quite possible that the t.c. isn't locking up, which can be why you don't see any rpm fluctuations.
Since this trans is a retro-fit, how was the lockup feature wired, if at all?