"Is the pushbar too big to come out of the hole where the upper bolt goes? It looks like you could take out the upper bolt, the two springs (with a small magnet) and then the pushbar. Do you know if the pushbar is steel or aluminum?"
It doesn't come out that way, the spring is a larger diameter than the bolt hole. Why the bolt is even there, I don't know. The pushbar is steel.
"If the hole is completely stripped and the locking bolt is missing. I'm worried that the original lockbolt must have indented the pushbar which is why the hole appears to bottom out in the engine block. See my revised attached picture. If it was overtightened like this I'd imagine that the pushbar is probably bent and frozen in position and wouldn't move. "
Hard to diagnose from here

Possibly the bolt sheard off and someone tried to drill it out and gave up, or drilled into the rod. I think you'd see signs of the rod if it went that deep though. And steel should have rusted by now...
"From the picture in the Honda manual,, it appears that the pushbar pushes down on the horseshow. Pushing down on the horseshoe would appear that the it would straighten out the curvature of the tensionsers which would reduce the tension on the chain. Is that how it works?"
You push the front of the horseshoe down rotating the whole thing around the bottom pivot mount , forcing the rear to go up making the rear tensioner leaf to bend and tension the chain. Camchains are always tensioned on the "slack" side which is the back on all Honda transverse OHC bike engines as far as I know.