I have removed and accounted for everything except parts number 11 in the attached link.
http://www.ronayers.com/Fiche/TypeID/26/Type/SWINGARM_@_REAR_SHOCK_ABSORBER/MakeID/1/Make/Honda/YearID/16/Year/1975/ModelID/9131/Model/CB550K1/GroupID/439290/Group/SWINGARM_@_REAR_SHOCK_ABSORBER
I believe that is the bushings that are still inside the tube. They seem to have become a permamant part of the tube. I have tried heating with a torch to loosen, PB Blaster, internal pipe removal tool, beat with a rod, even cussing, swearing and prayers have not gotten them to budge a bit. I have not tried the hacksaw method yet.
When I look through the tube the bushing appears to be about 2 1/2" long and made of metal, then there is aboat an 1/8" gap, then a center protion that looks bout 5" long that appears to be about the same diameter of the internal diameter of the bushings, then another 1/8" gap, then the other bushing. I am afraid that if I try hacksawing on them that I may damage the internal center portion of the swingarm tube while trying to cut the bushings.
Am I seeing this right? What am I missing? Or should I just saw away and not worry about it?
At this point I'd recommend the hacksaw. If you can, prop it up in a vise, so that as you cut, you can sight it with a flashlight to double check how deep you're cutting into the bushing. Cut to just before you get to through the bushing, then make a second cut about 1/4-3/8" inch apart from the first, same way. Then tap on the section of metal inbetween the cuts with a screwdriver and get that part to break free. If you do burr the metal of the swing arm tube itself, don't panic, just dress it with the edge of a file.
Once you've gotten the old bushings out, now comes the matter of getting the new ones in...What worked well for me was putting the new bushings in the freezer, overnight. Then, heat up the outside of the swingarm tube with a torch, or set the whole swingarm in an oven at a low setting (170-200 degrees we'll say) for about 30 minutes. Frozen bushings + heated up swingarm tube=easier install.
Hope this helps!