Welcome to APC
Like nevermore stated you just need to test all the connections with soapy water, let some drip on the connections. If it bubbles it's leaking. If your Co2 is leaking between the needle valve and the bubble counter you would need to increase the flow to get the correct bubble count because some of the CO2 is being lost before it gets to the bubble counter. What you stated is correct if the leak was after the bubble counter.
Like nevermore stated you just need to test all the connections with soapy water, let some drip on the connections. If it bubbles it's leaking. If your Co2 is leaking between the needle valve and the bubble counter you would need to increase the flow to get the correct bubble count because some of the CO2 is being lost before it gets to the bubble counter. What you stated is correct if the leak was after the bubble counter.