Perhaps the guy that told you about turning the "action collar" was thinking about the old recoil-operated Browning Auto-5? For that gun, there
is a part (actually called the "friction ring") that allows you to adjust the gun for heavy or lighter loads. The B-80 does not have such a arrangement.
Anyway, for the Browning B-80 (which is a gas-operated gun), there is a part called the "Recoil Adapter". I'm not sure if all B-80s came equipped with it. It's a sheet metal plate that you can attach to the gun in order to use light(er) loads. It goes between the front of the receiver and the rear of the forearm and is attached by two screws. Here's a link to Midwest Gun Works so you can see what it looks like:
http://www.midwestgunworks.com/page/mgwi/prod/C-021-3/PO13350
Basically, inserting the Recoil Adapter creates a tiny gap in how the barrel fits to the receiver, allowing barrel/bolt to move rearward slightly when the gun is fired. The theory is that this gives an extra recoil-assisted "boost" to the gas system, allowing light loads to be fired.
From what I've heard from B-80 owners, the Recoil Adapter may not work very well. Interesting concept, but might not deliver what it promised. I've never owned a B-80, so I can't provide any personal experience . . . I've owned only the Beretta A303 (upon which the B-80 is based . . . both guns were actually made by Beretta). As far as I know, Beretta never offered a Recoil Adapter with their A303 (maybe for good reason?).
If you have a Recoil Adapter (or if you can locate one to purchase), it might be worth a try for light loads.