[Ron Ramirez]

Hi Doug

Sorry, by the time you posted last night I had already hit the hay.

Yes, if you pinch those protrusions as you described, the cap will come off. Mind you, there is precious little extra wire under that socket, and just moving the socket may cause one or more of the wires' insulation to crack and possibly fall off. You may have to remove the bell of the transformer and resleeve those wires with heat shrink tubing.

But to answer your question, yes, that is how the cap comes off; by pinching the protrusions with pliers. They can be tapped back into place once finished with a flat blade screwdriver and a small hammer.