[OklaYeti]

Can you get a c-clamp on one of the bolts and the leaf spring?

 

[OklaYeti]

maybe try and pry the outer bushings out with a screwdriver... and if all else fails, sawzall to the rescue.

 

[OklaYeti]

You could try putting the nuts on the two bolts then the inside shackle arm on top of the nuts and beating it with a hammer.

 

[OklaYeti]

Even if I decided to cut it off, I can see a way to do so that helps without damaging the leaf springs themselves. I'll send an updated photo later tonight, but I am able to get it partially off if. I tried ratchet strapping to the tow shackle on the rear of my truck and broke through a 500lb ratchet strap. It seems it moved about an 1/8 of an inch though. I'm going to pickup a heavier duty ratchet strap and give that a try.

I can't really tell the space you have to work with, but if you cut the side off flush with the bushings, you may be able to punch the bolt out..hard to tell with only one picture. Keep going with the ratchet strap if you're almost there.