The obvious reason for receiving a penalty in the game is explained in the manual, but the other reason is really weird. Basically it is possible to get a penalty just for runing wide off of a corner. Oh and the computer will ignore whether you tried to correct your "error" by yourself. It will still give you the penalty.
In order to get maximum grip and handling from the wheels' angle you have to set your camber levels fairly low i.e. Well into the negative values. And in the learning centre when it says the front should have more camber. What it relly means is the front wheels should be angled more so the fronts will have a lower value number than the rear.