I believe Cryoine has it right. Your top pulley was fine (that is what my 11LD looked like when it came to me). With your switch around, you now have the top pulley on backwards. As others have said, one pulley was on backwards, it is the motor pulley that was wrong. Standard Modern uses what looks like an odd set up, but it seems to work very well. They use quite a large section belt (5L or B), it appears to fit the motor pulley, but looks to be too big for the top pulley - it is not, that was their design. You can easily roll the belt from high/low and back, without touching the motor adjustment - the small to large and medium to medium are very close to the same center distance and with the top pulley having a shallower profile it doesn’t need much belt stretch to change speeds. Also it is only a 3/4 hp motor, it doesn’t need much belt tension.
Anyway, that’s how I run mine and it works well. Using a regular B section belt from UFA, once setup, never have to play with the motor.