Last night after I readjusted the seatpost to the right height I tightened it down as much as I could. I then had my husband tighten it, and he put another 1/2 turn on it. When I got up this morning I checked it and I was able to put another 1/4 turn on it! That's not supposed to happen!

So I rode down to my LBS and they said I had nothing to worry about with the seatpost, but they replaced the bolt in the collar and tightened it to the correct tension. So I'm good to go now