TigFly,
I had a similar situation with that exact reel on a custom rod I built for an aquaintance. What I did was remove the reel seat from the reel and then ground it down to thinner taper. I repainted the reel foot and it worked fine for my application.
Whether or not you want to do this is up to you. This 'fix' saved my customer the cost of another reel, and the as modified CFO is still working fine. Another option is to buy a reel that fits the sliding bands better and use the Orvis reel on the screw lock seats it was made to fit.
Good Luck!
Buddy
It Just Doesn't Matter....