Thanks for the help regarding my wife's recent fender bender: http://www.brickboard.com/RWD/index.htm?id=872275

I took your collective advice (didn't want that thing flying up while she was driving to work) and checked it out ASAP. As it turns out, I was only hearing one click while shutting it, and it was somewhat loose height-wise. But it was in fact being held down by the main latch, not only by the safety hook like I was thinking. So there was really no danger of it flying up. But it is a little loose by a 1/4 inch or so and needs to be tightened down. I couldn't see any evidence of damage to the body or the fender, so I just want to tighten the hood down a bit and call it good. So we really lucked out and beyond the somewhat broken headlight assemblies (which I think I can macguyver) and the missing license plate this accident isn't going to cost us anything.

The problem I'm still having is that the latch pin that (I'm assuming) controls the height adjustment doesn't seem to want to take an adjustment. I can't turn it at all in either direction with a screwdriver, even after spraying it with PBlaster and waiting a good while. Is there some other way of adjusting the height of the hood, or do I just have a really stuck latch pin? Or is there a trick that I don't know?