Strange coincidence, I was going to ask something very similar.
Mine now doesn't lock down, but I can't see any damage to the threads. I wonder if the tube has moved into the case slightly so there isn't enough thread for it to get a starting grip - or in your case (pun intended) there is not as much thread available as before.
I was going to ask how to remove the stem tube so I can drop a replacement in there myself. There isn't any internal surface that's designed for it to be screwed in and out, and it's not obvious which way to push/pull it, so do I need to heat and tap it out or is it a grind and drill job?
[Sorry for the thread hijack, it just seemed easier to keep two questions about the same problem on the same watch in one place]