From doing several 3:55 gear jobs I have found two different types of bushings. The one in the photo above is a one piece, I'll call it "long" bushing. The other is a smaller two part bushing. I have never installed the Okie bushing into an already existing system so I can't really say much about it. I have a few of the bushings that I have extracted and have seen the large and small one.
To do the gear swap you do not have to remove the banjo housing from the truck. In my case the pinion bearing failed (from having too much fun with my new 261) so I removed everything for a real good cleaning.