If the cam spindle has been rotating in the crankcase hole something is definitely wrong. As Norm says, they're an interference fit in the crankcase. I guess you heated the crankcase up to extract the spindle, so that you could get the cam follower guides out safely. Trying to extract or refit the spindle (or guides) from or into too cold an alloy casting might have destroyed the interference fit, allowing enough clearance for the spindle end to rotate. However, if I remember right, on the classic engine there is also a partly ground away flange (is that the flat spot you're referring to, Bet?) immediately above the section of spindle which sits in the case. This is meant to sit snugly in a recess in the crankcase casting as a further means of stopping the cam spindle from rotating, but could have failed if the spindle wasn't refitted properly. Please forgive my stating the obvious if you actually did it all properly both times! Our hosts' notes on fitting performance cams to the classic Bullets sort of show what I mean, Norm will correct me if the Electra-X is substantially different!
http://www.hitchcocksmotorcycles.com/pi ... mshaft.pdf
The only other thing which springs to mind is an intermittent partial seizure of the camshaft bushes, they're steel on the Electra and other Indian Bullets, whereas Redditch Bullets used phosphor bronze. The exhaust cam on my Electra was showing signs of this with some bush material needing emery-ing off the spindle outer, and the cam replacing.
As for the model year for classic Bullet parts to carry out Norm's modification to your Electra, the cam followers and guides for any late classic Bullet (NOT the EFI Classic!) will do. So far as cam spindles go, it sounds like you will need an oversize version to fit where the originals were spinning. If you check parts search you will see our hosts list them in both ajustable and fixed versions. Fixed cam spindles might result in a slightly noisier engine, but they're one less piece of maintenance to worry about!
Regards,
A.