First thread BOTH sides ALL THE WAY IN. Both sides.
Snug both clamps. Dosen't need to be tight, just snug.
NOW you bolt in the axle side bushing. Again, snug. Not tight.
See what direction the frame side mount needs to go. Shorter? Longer?
Now loosen both clamps. Your red and blue. Do NOT rotate the frame side end!
While holding the frame side end, rotate the adjustment collar that is BETWEEN your red clamp and blue clamp.
Turning that collar will lengthen the track bar. It should only turn one direction because you started with both ends fully threaded in.
Adjust the length so the frame side can be installed. Not tightly, again, just snug it up.
Now you should be able to rotate the adjustment collar to center your axle in the frame.
Once you have it adjusted correctly then you can tighten up your red and blue clamps followed by your axle side and frame side bushing bolts.
All done. Easy-peasy