Sprint,
Here is what I think happened. The protruding ends of the inner sleeves got stuck in oversized holes in the plates. The previous owner couldn't get it apart and ran a saw between the plates and the ends of the swingarm, thus the inner sleeves cut flush and the saw marks on the swingarm ends. Assuming Beezermacc's measurements for the bushing are accurate (and I do), your swingarm might be 0.114" short. I am not sure this is a stopper as long as the outer sleeves protrude to represent the difference. Then, the ends of the inner sleeves need to butt againt the plates, not ride inside. If they slide all the way into the holes in the plates then the holes need refurbishing (for oversized or ovaled). One curious point: do the plates on your frame show saw marks or is the swingarm from a differentt bike?
Richard L.