Charles,
The stud has flats which prevent it rotating within the banjo, the threaded extension carries a washer and nut (On the other side of the banjo). When the nut is tightened, the stud is clamped in position on the banjo (Once the gear meshes have been set).
The outer end of the stud can be tapped to take a screw , setscrew, or capscrew with a washer to retain the gear on the stud. Or it could carry another external thread for a nut and washer.
No big deal, just a simple arrangement!
To help a newbie, I made a stud so that a second compound idler could be used, to produce a fine feed for finishing, on his elderly lathe.
Certainly worked that way on my ML7, so seems unlikely that subsequent models would make it impossible.
Works that way on my later oriental lathe, and on my mini lathe when I had it
People have been using this sort of arrangement for changewheels for 90 or more years, so it can’t be that difficult!
Howard