I want to join reserves as officer but I am 40% rated with VA (many reasons). Is it worth it?

I was at 60% before I came back on active duty orders. There were like two checks a year that were reduced because of recoupment, but worth it if you still hear the call to serve.

Come back in as an E-5 and then progress to E-6 rank. Approximately a year later, you then can take LDO exam and submit your package.

It not worth it because the va will lesson your disability check due to your drill pay check. You can't double dip, plus the reserve may not take you because of your disability.

My standard response is "it depends." If you are interested in coming into the RC as an officer you need to talk to an officer recruiter to see what options (i.e. what do they need), if any, are available to you before you do anything to alter your disability rating.

My answer is unfortunately no, it may not be worth it but it appears that you did your homework and you know what decision is right for you. I'm not saying dropping the 10% is a bad thing. But keep in mind that in addition to petitioning the VA to drop your disability by that percentage and being retirement pay eligible at age 60, your pay may be reduced to compensate your disability earnings. In addition, you would still be required the same physical requirements just like when you first went in.

So at best you're 38? Not too sure you'll be able too because of the age you'll be once you get your rating down to 30%. Also, you may (at the least) risk having to payback the 10% difference in disability payments from when you say you improved. The DD2807-2 is a requirement regardless of enlistment or commission, especially since you have a rated disability, even if your rating was 0%.

OK, so first let me get the numbers straight.
As I understand it you have 6 years active that ended 14 years ago. That 14 has been as a civilian; no reserve time - correct?
That puts you at ~38 assuming you entered out of high school. Many commissioning programs have as an age limit, minus your active duty time.
You say you're a contracted engineer; do you have a calculus-based Engineering degree? If so, you might be interested in the Engineering Duty Officer (EDO), Aviation EDO, or Civil Engineer Corps (CEC; AKA SeaBees).
I'm a Reserve EDO, and we're actively recruiting. Up to age 40 for commissioning is no issue, and we just approved a promising candidate at age 43, if I recall correctly. If you're interested in that program, drop me a note.
I was commissioned at age 40, with 6 years Active and 16 Reserve enlisted. I can't speak to the benefits issues, but I've found it well worthwhile to continue my reserve career. The retirement medical at age 60 is a great deal, but you may already have that covered through disability, particularly if your disability is increased on review.

Since you have been inactive for 14 years, are you physically qualified and willing to serve if you are called to active duty? If not do not waste everyone's time. I was a Reserve Center Commanding Officer and I have seen too many people who wanted to get the paycheck and the benefits but as soon as they were called up and the "rubber hit the road" tried to find every excuse in the world to bail. The Naval Reserve is not a thinly disguised social welfare agency.

Some food for thought, while receiving drill pay your VA benefits would continue to be awarded based on new directives. Just last week the VA Central Office informed everyone that they intend to recoup drill pay from VA Compensation; effective Feb 22, 2016, "all adjustments for drill pay processing will be retroactive." They go on to state "The retroactive adjustment will create a debt on the Veterans award. The Veteran will receive notification from the Debt Management Center (DMC) on repayment options." In bold letters in this directive "This action will create a debt/overpayment in the Veterans award."

So although the memo allows for veterans to file for financial hardship, make a payment plan, etc.. this is detrimental to those going through the drill/training process. So plan accordingly with finances. I can see this system causing major credit rating problems if these issues aren't resolved in the governments interest.

Many commissioning programs have age limits. When I finish my degree next year, I'll put in for SWO; which has a maximum commissioning age of 29. I believe most URL designators also have that cutoff, with waivers granted to a certain point. If you've been in for 14 years already, then you should make sure you're still good age wise with the designator you want.