Hi Jabree:
If this is Oracle (which looks like due to your error 1), Maximo actually uses a database sequence (that will need to be updated with ALTER SEQUENCE). And you should still update MAXSEQUENCE as per above.
Also, I see it is named like a View, so it may be that the combinations of fields there already exist (CONTRACTNUM, REVISIONNUM, ORGID, etc.), check the Unique Indexes on the base table to get an idea as it may not be necessarily the surrogate key (but according to what you did above, it probably is as it was out of sync with the data).
Thanks