Re: Low Fuel Economy - Running rich, not sure why
125 isn't stock, so at least the PO tried to adjust the jetting. But it's a little lean for the set up that you're running of pipes plus intake... I'm sorta surprised the plug wasn't white. Oh, well. The results speak for themselves.
I understood your first post to mean that the pilot screw was all the way in. Having it out like it was an adjustment that the PO did, and again, if it worked, then let it ride.
A horribly dirty air filter would cause poor fuel economy. And it would suffer if your chain was too tight, so you're on a good path there. Find the tightest setting of your chain as you rotate the back tire and adjust it to that point. It won't all be uniform. But it's better to be slightly loose than to be slightly tight.
All the usual stuff? Air in tires? Condition of your oil? Clean fuel with some cleaning additive?
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