>>7105332First, get that pin out of there. It's very shallow and doesn't actually take much. Gentle prying with a flathead screwdriver should be enough.
(Top left) I cut a washer out of the same material that I glued to his feet. You could also use an actual rubber washer, I figure.
(top right) this is the screw I used. It's from Energon Shockblast's lower leg. The ones from his waist are better and I'll show you why. I cut a washer out of a plastic bottle to go on here. You need a very thin washer to have room for the leg to collapse right, otherwise between it and the screw you add too much to the underside of the leg connection.
(bottom left)
Screw it. The hole is narrow enough for the screw to thread it and hold very tight.
(bottom right) side shot. You can see the grip material sandwiched in there.