Matt
here's my take. The M22's are rated at being able to handle up to 200 watts, not a constant push of 200 watts. That would make them EXPLODE!

putting your amp up to +04, +06 is a very high volume. Denon amps are excellent at pumping clean volume, but once you get into the +#'s, you're really pushing your amp. At this point, the current it starts sending can get dirty or muddy, or even worst, it could clip and damage your tweeter.
I have the 1602 (the little brother of the 1802), and it's rated at 70 wpc, and it goes from -60 to +10. I find anything past -10 is too loud to listen to, and it does distort at these volumes. Some recordings that are more dense will distort at -15 or so.

I doubt it has anything to do with the wiring, unless the binding posts are not screwed properly. I, too, barewire them.

What kind of music are you playing through them? Do you have the speakers set at large? Personally, i love the sound of the M22's at large, but I have to keep the volume lower at this setting, otherwise it distorts quicker. If you are listening to bass intensive music with the speakers set at large a +04, then, yes, it will distort. Setting them to small will reduce this.

post back if you tried my suggestion and it didn't work!