Thanks for your feedback.
I've revisited my composting knowledge recently about moisture levels and was surprised to discover that (according to Dr Elaine Ingham's Soil Food Web School) compost should have a 60% moisture content to be most effective. This was quite surprising because that's a lot more than I had thought. They describe it as being that if you took a handful of compost and squeezed it, it should keeps it's shape and you should be able to get 2 drops of water out of it. So in that sense it's actually good that the bays are holding the moisture as long as the compost doesn't compact too much.
Wood chips as part of the mix make a great carbon for keeping air pockets through the compost and adding PVC pipes with holes drilled in them.
It's best to sift the compost when you are ready to use it and then throw the chunky pieces back in through the compost for aeration and also to inoculate the next batch.
Hope that helps!
Clytie