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@kowalski
Have a look at this.
http://www.sandsmachine.com/ac_bolt.htm
Suspect you need to HTFU!
Unless the inner bolt is damaged, its pushing against the outer cap that pulls the crank arm off.
Logic would dictate the outer cap would undo clockwise, but the threads on the crank arm are designed for dustcaps or extractor tools that tighten in the normal manner.