Lil Wayne's Beef With Scooter Braun SQUASHED -- We All Cool With Bieber's Guy

Justin Bieber's manager can sleep with both eyes closed -- Lil Wayne is backing off the death threat he hurled at Scooter Braun after learning his homie Lil Twist may have blew some details out of proportion.

Sources connected to Wayne tell TMZ ... Scooter smoked the (metaphorical) peace pipe with Wayne's manager and both men chalked up the beef to a huge misunderstanding.

As we reported ... Wayne posted a video last month saying, "I heard this bitchass n***a" Scooter talking s***" about Twist. He also said he would put Scooter's words "on yo' tombstone."

Wayne was amped up because Twist had just told him that Scooter labeled him a bad influence, and wanted him out of Justin's house. But we're told Wayne's people now think Twist exaggerated some of the details about what went down with Scooter.

Wayne's chilled out now, according to our sources ... and willing to let bygones be bygones.