That bolt should not be spinning, but instead, torqued to secure the hub of the pulley. This bolt is not removed to replace the timing belt and should be left alone to maintain the eccentric hub in the original orientation to maintain the tension set by Yamaha. Only the two bolts securing the gas piston are removed to release the tension on the timing belt during the belt swap.
It is most likely that the threads in the aluminum tensioner lever arm are stripped where that hub bolt is attached. That will require either a Heli-Coil type thread repair or a replacement lever arm.
The tensioner piston should require a C-clamp or vise to compress the piston to align the small holes so that a 1/16" drill bit, Allen wrench or nail can be inserted to hold the piston in the compressed position. I don't have a number on the pressure needed to compress the piston, but it should not move with hand pressure. It should take the C-clamp or vise to compress the piston.