If you can adjust valves on a Norton Commando - you can adjust valves on a 914. Fellow Commando lover here! Unfortunately my Copper Cafe Commando project hasn't progressed much in the last 7 years for a variety of reasons; my current 914 project being but just one of them.
Click to view attachmentAs to why valves would need adjusting its related to wear and mechanical fatigue.
1) Valve face to valve seat recession.
2) Valve stems tend to stretch over time from inertia and spring loads acting upon them.
3) The end of the valve stem can become slightly concave over a long period of time due to scuffing wear between the valve adjuster and the valve stem. This is very hard to detect since a simple feeler gauge won't measure the wear to the bottom of the concave surface. Luckily this takes a lot of miles to occur and by then there are usually other serious problems that point towards the need for a rebuild.
4) Cam wear over time
5) Lifter wear over time
6) Push road wear over time (minimal but it is occurring)
7) Rocker arm to push rod pocket wear over time
I recommend keeping records of your valve adjustments over time.
A valve that is repeatedly becoming tighter over time may be showing signs of the valve stem stretching. This warning can be a precursor to impending valve failure at worst. Better to see it coming than to wait for the valve head to separate and destroy the engine. At best, the valve seats are recessing and it's probably time for a top end refresh.