First, I would just like to say this is one of my favorite parts in the LDraw library. Just very nice, clean, yet detailed, and it's fun to be able to accurately model the big Black Cat truck while including that fun little nod to the Fabuland theme. 
That being said, I think the shaft is a bit long. A rough visual estimate based on this image suggest it should be about 62-63 LDU from the shoulder of the blade to the crossbar. Right now, that's the distance to the top of the blade subfile, which includes the little rivets that overlap the shaft. So the whole blade should be moved up that distance (and the shaft shortened accordingly).
Easy for me to fix, but I'm just bringing it up in case anyone has the actual part to give a true measurement.
That being said, I think the shaft is a bit long. A rough visual estimate based on this image suggest it should be about 62-63 LDU from the shoulder of the blade to the crossbar. Right now, that's the distance to the top of the blade subfile, which includes the little rivets that overlap the shaft. So the whole blade should be moved up that distance (and the shaft shortened accordingly).
Easy for me to fix, but I'm just bringing it up in case anyone has the actual part to give a true measurement.