I ran into this problem on a KLR650, which looks to be a similar design by the picture. The problem with trying to heat the spacers that are frozen is they don't make contact with anything you can get to from the outside, so there is no way to get heat on them. I resorted to a BFH (big freakin' hammer) and punch and pounded it out, ruining the bolt. I think the idea of drilling a hole and filing the cavity with penetrating oil is a good one. I did have the idea, which I have not tried, to drill and tap a hole in the hex head end of the swingarm bolt, and try to draw it off, like a gear puller. It would depend on how hard the bolt is. Please post up how you get on, as I need to lube the swingarm bearings on my KLR on of these days.
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