The idea of the letting down toot is to utilise the 4-jaws of a chuck- type tap wrench as the adjustable 'key' for the square arbor. The outer diameter of the chuck does not foul anything, assuming the dial has been removed.
The size of the tap wrench is chosen to cover the range of arbor sizes required. (eg Eclipse make 2 wrenches 3-5mm jaw and 4-8mm jaw.)
In use, the chuck is adjusted to fit the square arbour, the spring tensioned with the handle to allow the click to be lifted, and the spring let down by allowing the handle to slip through the hand in a controlled manner.

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