[Sputter]

You're getting there man.

Yes, that's the bushing. It's a threaded metal bushing that the bolt turns in to.

You tap the bolt while it's still drawn into the bushing. (careful you don't break the idler pulley, it's nylon or somesuch, so beating on it won't be good).
On my 02 S, I found that the bushing was pretty darn frozen in place. The bushing rides in the back hole of the alternator.

The idler bolt sits in a cradle, the bushing, when torqued up, draws the bushing tight to the cradle. Tapping on the bolt pushes the bushing back by a few mm to allow the bolt/alternator to swing up out of the cradle. (counter clockwise).

It will help if you can raise the alternator clockwise (on short bolt side) clear of the threads, . This will help reduce a little pressure on the cradle section and help in swinging it clear of the cradle.

I hope this helps a bit.

Stick at it man. It's a bit of a pita but very doable.