We had a dirty encoder disk and had to take the fan off the top and carefull clean the rotor inside the encoder. I dont suggest this unless you are really carefull or run out of options. The syptoms we had were jittery spindle at 7000rpm+ in high range and 1700rpm-2500rpm in low range. My guess is that the encoder right behind the Z axis sheet metal is dirty. It stands vertical and I believe you can wipe it off and the area that rotates.
But I believe their are two encoders...one for rigid tapping and one for spindle orientation. The rigid tapping encoder is at the top of the spindle and the one for tool orientation is in the middle of the spindle and faces either up or down (cant remember after the PM) you will need to clean it off. Try that first before you dig into the encoder. Dont worry you can try it with the sheet metal off.