Are you talking about removing threads from the adjusters to lower the string height? If the adjustment is bottomed out to the point of the bridge contacting the wheels top and bottom, that won't gain anything. You do need to remove bridge material either from the top of the bridge, or the legs.
Or is the adjustment reaching its lowest point before the legs bottom out on the wheel? In that case, I guess you could remove some of the threaded post to gain some adjustment. Easier than trying to drill and tap farther into the leg, and I guess removing leg material wouldn't gain any more adjustment in that case, either. So you'd have to remove some of the post or cut down the top of the bridge. IIRC, some folks say that the bridge shouldn't be bottomed out on the adjuster wheels, that there should always be a bit of space.
Oh yeah, keep your bridge away from your table saw.