…the threaded part would probably screw intro a threaded hole up to the shoulder, and the nut would lock it to stop it unscrewing.
That is a good observation and would account for the excessive threaded length compared to the standard metric offerings linked to above.
It might be useful to measure the length of the plain shank to see how close it is to a nominal dimension (the pivoting thing would need some slight side clearance when the shoulder where the threads run out touches down).
A rub with a hardness tester might be instructive – standard ones as above RS link are tough (I broke an M9 die trying to make a replacement screw for a Bosch multitool from one).