richfriend wrote:The lock nut came off without too much difficulty witht he appliction of powerblaster and a 1/2" impact wrench. What appears to be the second nut is a different story...
...shouldn't there be two nuts?"
Am I confused, or aren't you describing two different nuts? You mention removing the "lock nut", plus the nut that is still on the shaft.
Your photos show what certainly looks to be a nut. It looks to be either a strangely shaped nut, or else it is badly rounded over--perhaps from someone's previous unsuccessful attempt to remove it. Are there any true flats on that nut? The photo is a little blurry, so it's hard to see the detail.
Patience, penetrating oil (or Tabasco, as mentioned), and possibly heat will eventually get this nut off. Be careful with the heat if you go that route. Don't force things, or you risk badly damaging your shaft or propeller. Be careful with things like large wrenches or breaker bars, too. It's very easy to do irrevocable harm. You'll either get it with a regular wrench, or it's not going to come. I don't know much about nut splitters, but whatever you use, be very careful that you don't damage the taper or threads on the shaft. If you damage the existing shaft, then all your time working to get things off is wasted.
If you're not planning on reusing these things anyway, then save yourself the hassle and just cut the shaft now. But I'm assuming for now that you would like to save the shaft and prop. Eventually, you might run into the problem of diminishing return, where the time you spend trying to remove and save the current gear is worth more than just replacing the getup entirely. But assuming you have some time before you truly need this removed, then keep applying the penetrating oil over a period of days and weeks, and keep trying that nut with a regular wrench. If this doesn't work within a reasonable amount of time, then consider springing for new gear and cutting out the old so that you can move on in your project.