If you have already drilled a hole in the bottle cage bolt, if it is near centered drill out the entire bolt,then use bigger and bigger bits until you are just short of the threads; the odds are the action of the bit will unscrew the bolt. As far as the recessed nut you may need better allen wrenches, however it may be the recessed nut is stuck in the fork, not the brake axle threads. You might want to try disassembling the brake from the front and then try a unscrew it from the front; hopefully there will be lands for a cone wrench..
Last edited by onespeedbiker; 01-30-13 at 12:08 PM.