Join Date: Mar 2006
Location: Near Seattle
Bikes: Homebuilt (vintage mtb frame)
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I have a similar screw on my bike, but it's a threaded machine screw and it only protrudes a few millimeters inside the BB shell. You might just cut/grind off your screw so it's shorter. There's actually quite a bit of space between the shell and a sealed BB (perhaps 3/8").
Regarding the fixed cup - I had a heck of time getting mine off (spanner kept slipping), so I used the method described in Sheldon's website - clamp the fixed cup in a bench vice and rotate the frame. The hardest part of that is keeping the frame level - works better with two people. Make absolutely sure you're turning it the right way - with a flashlight, look inside the BB and you should be able to see the threads so you'll know for sure. Failing that, your LBS has some special equipment that will get it off.