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Maybe Cheeserbeezer has a more cunning and less time-consuming method?
All I know, and have whinged about it many times, is that anyone who thought the first turn of a raised left hand thread could make a durable 'shoulder' for extraction needed his head examining.
I've had to deal with this a few times. Don't cringe but I have managed to remove ATDs with levers when they won't self-extract. Rocking from side to side does it. Fortunately the back of the crankcase half is solid against the mag so there is plenty of material to lever against, but this is not a recommendation!
Regarding removing the centre bolt, again, no quick fix, just keep drilling until there isn't much left then break the outer skin of the nut and collapse it. I find the left hand tap I have will repair the female threads so, with a new nut, all is well again.
A problem not previously mentioned is that the threads on the end of the armature are often a bit short so, if the left hand thread on the nut is a bit mangled, the inner thread of the nut skips over the last thread on the armature before it extracts, hence the problem. I find this is as much the cause of the problem as any other. If Lucas had made the armature two threads longer the problem would be much rarer. I usually remove short or damaged threads on the armature and replace with the correct thread by cutting the old threads off, drilling the end of the armature on the lathe and tapping 3/8 BSF about 3/4 inch into the shaft. I fit a high tensile bolt with threadlock and cut the head off at about two threads longer than original. This makes a superb repair and you get the benefit of new threads and longer threads to prevent the ATD extractor failure.