It is a somewhat annoying system, but I managed to resize a new Black Monster fairly quickly and only lost one collar. I found (too late for that first collar, of course) that pushing the pin out and then disassembling the link over a box was the way to go. Re-inserting wasn't too bad - I used the edge of our granite countertop to apply pressure on the collar until it "bit" into the pin, then countersunk it the rest of the way with a narrow awl tip. So far it seems like my surgery is a success - pin heads and collars are lined up just as they are in the untouched links.
Side note - although I don't have too many watches, I do have another titatnium bracelet GShock w/this setup so I knew what to expect, to some degree. That one is a little easier to manage though, as its collar inserts into the inside of the outer link, which has a little recess to hold it in (rather than the outside w/nothing to keep the little bugger from sliding out).
