Have you watched the Jamie Wallen video? Here is a link:
https://www.youtube.com/watch?v=Q1mRhcquZTM
Basically you want to adjust your bobbin first, then adjust your top tension. My thinking is that the bobbin tension is too tight for the thread you are using. King Tut is quite a thick thread. If you can't loosen the bobbin tension enough for King Tut, you might want to consider using a different (lighter weight) thread in the bobbin.
Also, what *type* of needle are you using? I believe Superior Threads recommends a topstitch needle, and I think I have seen sharp and jeans type needles recommended for batiks. Maybe someone here will have a link to needle choices for batik.