well I wouldn't be banging on the zerk fitting for sure, but IIRC, that shaft can come out either way once that Y retainer is removed - it will no doubt be corroded as most haven't been greased in ages, but I'd expect a slight tap back and forth would pop it loose, there's a bronze bushing in there I believe ... the other way around is to remove the top pedal shaft so the lower one can be taken out with the master, but that joint is usually pretty siezed in as well, being a taper fit sucked down by the retainer bolt .... perserverence will get'er done!!
Bill