Thanks to ALL of you for your responses - Here's where we are now.....
The cotter pin is not in the equation at all, as I easily removed all of it along with the right side nut without issue, so I know thats not part of the problem.
When I originally began to remove the Hitch Bolt, I removed the aformentioned cotter pin and nut, and then proceeded to remove the Hitch Bolt, all awhile, the Spyder was sitting on a rear flat tire, and I mean DEAD FLAT. In hindsight, I should have either jacked the Spyder up or plugged and re-inflated the tire before I started to remove the Hitch Bolt. Live n Learn....
I'm thinking, since I was able to get it to come out by about 4 inches, that was enough for the right side of the bolt to clear the hitch and get fully inside the axle, thus putting pressure on the left side and causing it to bind such as it has. Just my logical thinking here, no evidence to prove anything yet, as its still stuck more than ever.
Even with my buddies help last night (who's a MillWright by trade) trying everything we could, jacking it up high, mid, low, up down, actually plugging and reinflating the tire, removing the Muffler bolt so we could raise the muffler enough to get a long metal rod into the Axle Shaft on the Right side and trying to pound the Hitch Bolt out, all awhile using copius amounts of WD40 lubricant.......... nothing, it won't move besides being able to muscle the Hell out of it with a socket wrench and getting it to turn just a tad each time, but its just turning in place and not progressing.........UGH!!!
He has an electric impact that we're gonna try when we get off of work today, along with me stopping by the Auto Parts store to pick up some of the Lubricant that was suggested and we'll try this combination next and see what happens. But right now, we can't get the Hitch Bolt to go either direction, just around and around and that's giving it everything we got with a socket wrench. Hopefully with having a power impact, it will help to break it loose and with one of us wiggling the hitch up and down, maybe we can get it lined up to where it will slide out. Don't know what else to try at this point.
9 days now since we've been out for a ryde and Teddy is going stir crazy, I feel so bad for the little guy, but all the while we're working on the byke, he's sitting right there in his carrier on the back waiting for us to take off, but it never happens and you can just see in his eyes how bad he's stressing cause he wants to ryde.....