TT's right. The screw meters fuel, screwing it in makes it leaner, all the way in shuts it off. If the needle tip is in the hole and you back the screw out then you may get fuel to flow, but with the tip just "floating" around I imagine that it would run pretty inconsistently.
Just looked on Powersportspro(expensive) and see the screw,spring,washer,o-ring listed at $11.64. If Honda still sells the part it would be worth your peace of mind.