Join Date: Feb 2004
Location: St Peters, Missouri
Bikes: Catrike 559 I own some others but they don't get ridden very much.
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You're pretty much right. There is a slightly different Park tool, that has a black handle, for removing hollowtech crank arms. That's obviously the "A" solution.
Some alternative answers:
1. Some cranks have self-removing rings that surround the crank arm fixing bolt. These can be identified by the two pin wrench holes in the dust cap. If you have those, just unscrewing the bolt with everything still in place should remove the crank arm.
2. Shimano made an adapter, that looks like a little metal hat, that you can use with your standard, blue handled park tool for removing hollowtech cranks.
3. In a pinch, I've used a nut that was the right size to fit in the crank arm as a substitute for the Shimano adapter. Unfortunately, a dime is just a smidge too big in diameter.