Owen_Dyneto wrote:
Though the hydraulic assemblies themselves can be removed from above once the valve is removed, the cam followers (and mechanical lifters) can only be removed from below once the camshaft is removed.

You talked about adjusting hydraulic lifters - you don't adjust the lifter itself but you must check and adjust if necessary the take-up clearance between the lifter and the valve stem whenever new valves are installed or valves and seats ground. This is covered quite well in the shop manual.

As to the lifter oil bleed holes, don't expect to see significant amounts of oil spurting from them.