With proper technique, removing bearings from router bits can be a safe and straight-forward procedure. Removing shaft-mounted bearingsfrom a bit is easiest – simply loosen a set screw in the locking collar and slide off the collar followed by the bearing. This is easy because the set screw is perpendicular to the shaft.
End-mounted bearings are a different story. They are secured with a screw along the axis of the shaft and are usually tightened quite well. To remove them, you need a way to prevent the bit from rotating without damaging the shaft – that means no Vise-Grips!
The best solution I have found is also the simplest. When I figured it out, it was one of those “why didn’t I think of that sooner?” moments. Hint: it came with your router. That’s right – the router collet. Install the bit into the collet on the router, then use a wrench or spindle-lock pin (if your router has one) to immobilize the router bit. Now it’s simple and safe to use the hex key to remove the screw securing the bearing.
Sculptural Woodwork by Chris Wong 
Thanks for the tip Chris. I’ve hesitated to remove the bearings because I was unsure how to do it without damaging the shaft. This is almost too easy!
Coincidentally, too, Woodpeckers has a limited-run tool on right now that is a router-bit vice for exactly this reason. Are you in kahoots with Woodpeckers, too?!?! :)
I am new to routing anything beyond chamfers etc. but you bailed me out with your common sense but lost on me solution.
So, thank you, thank you.