OK, I can think of one way to do it that does not viloate any of the rules.
The bolt is actually 3 pieces. You take a bolt that is slightly longer than the 10cm and cut it so that the cuts are concealed by the verticals If my scribles on the back of a business card are correct say about 2.3cm from each end. Then chuck the pieces in a lathe and center drill the ends of the bolts. Depending on the diameter of the bolt in question you can either tap the holes so they can screw the pieces together, or use roll pins. for the example given I would go with a roll pin.
Saw the wood piece and drill. You will note that the holes are drilled at an angle. With a little loctite you can assemble the three pieces into one solid unit that will not dissassemble, and appear to be solid.
Steaming looks like the answer to me. Rather than bending the wood, I’d go for compressing it in a vise. It should be possible to squash one of the ends top to bottom far enough to get the bolt in, then release the vise and steam some more to swell the wood back to its original shape.
I’ve seen the arrow-through-a-bottle trick done that way. Here’s a nice one, with a little extra:
http://www.johnrausch.com/puzzleworld/puz/arrow_through_bottle.htm
I’m assuming the no cutting rule refers to the bolt as well. If the bolt is really in three pieces the solution is simple.
Remember, any solid material fits the parameters. Metal, ceramic, diamond, etc. would be impossible to steam or compress. Plus steaming is prohibited.
Looking at the latest picture, the holes look big enough for the bolt to be inserted with only a very slight bending of the vertical member nearest to the camera.
If that’s not how it’s done, I would also suspect that the bolt has been installed in two sections and glued together.
The wood is treated with water or steam and pressure so that it can be deformed just enough, and just long enough, for the bolt to be inserted. It is then restored to its original shape and allowed to thoroughly dry.
This is how it is made.
If you have been told of any conditions that would invalidate this explanation, then you have been misled, either deliberately or mistakenly.
I make impossible objects myself (I would provide the URL to my site but the Mods might not want me to in case it’s held to constitute advertising a commercial concern) and I know many of the leading puzzle experts in the world, including Scot Morris (in the States) and Tim Rowett (here in England). I also know a lot of puzzle experts through my connections in the Magic Circle, and other experts and collectors. If you want to believe otherwise, that’s fine by me and it makes no difference either way. But the correct explanation is as stated above, with acknowledgement to the several and various Dopers who posted the correct solution before I got round to it.
Actually, I wasn’t talking about this board, one of the three “certain” methods came from this board, the one involving steam.
::: sigh:::
I swear I am the Rodney Dangerfield of these threads.
See post #41. Problem solved, no steam.
Make that 6 possible answers 
After playing with it for a while, you’re right, you can inspect about 98% of the shaft. It would have to be damn good glue, and glued very carefully… I wonder how long the glue would take to dry… 12 hours maybe?
…screwing them together could work, but I bet no one makes the piece you need… Maybe it takes you 12 hours to make that thread, on the inside of the rod.
I’m working on getting some better photos.
By the looks of it, the holes are not drilled at an angle.
You could screw them together or you could pin them together with a pin. Using Loctite (a brand of metal glue) you can create a joint that is stronger than the suronding metal.
The cure time for Loctite is 24 hours with no primer and 1-2 hours with primer.
Allowing for time to saw the wood, drill the wood, machine the rod, and assemble 12 hours is not too far off. Particulary if you took the time to make the joints in the threaded rod look as if they are not there.
I put it up on this board too (which I can see was a mistake, but I’m very new to this message board thing, I didn’t predict it going the way it did), the whole thing is a bit crude (which is why I’m now on this message board, not that one), but there are some ideas in it, and I thought it might help everyone to have some new opinions and ideas injected, so here they are:
http://www.ratemybody.com/forum/topic.aspx?SelectMenu=.%2F&whichpage=1&TOPIC_ID=603572
…It’s certainly a good idea
Can you describe the ones you saw that had a pencil? Was there also something in the middle of it? I find it curious that, accorfding to the OP, that it can be either a pencil or a nut and bolt? Why not either a pencil and just the bolt?
And correct me if I am wrong, but the challenge is to create this object, not extract the bolt—correct?
The pencil didn’t have anything in the middle, it was just a pencil.
The challenge is to remove the bolt without breaking anything, or changing the shape. However, I never said that had to be possible. I was told it was possible. But I think if it was, as it’s such a good problem, it would be pretty famous.
Okay, I think this works: The wood is pine (soft). So theoretically, all you need is a wrench to keep turning the bolt in one direction. Eventually, the threads on the bold and one of the stantions in the middle will oppose each other, driving the the volt in the opposite direction. Eventually, one end of the bolt will push against one of the end stantions, at which point, you just keep turning in the same direction until the force created by the thread and the center stantiongets so great as to cause the end to bore into and through the end stantion. Then you just keep turning until the bolt comes off the end and you can pull through the rest of the bolt.
Well, almost works. It woldn’t work with a pencil and a steel block.
Next idea: Fire. As long as the two pieces are different elements, that will burn at different temperatures. So for the object shown, burn the wood and you’re left with the bolt. If it’s the pencil and a steel block just burn the pencil and you’ve succeededin extracting it from the block.
That’s all I got. But could you please CLEARLY and explicitly state the PROBLEM. I think the answer is in the details.
I’d have to agree on that bit, I think I’ll call and ask him.
Your quote from the link you provided (emphasis mine):
As you can see, these are two different problems. I’d ask you again to clearly state precisely what the problem is.
Oops. Didn’t see that you posted this. Thanks.
How’s this?:
Take it all as you will, take the rules as you will, give whatever kind of answer you like (other than “you look like a robot”, that is). And if you don’t want to, don’t even take it as a probelm, take it as “here’s something interesting, what do you think of it?”
I gave up on asking people for answers, now I’m just saying: I’ve had a lot of fun with this object, feel free to do the same.
And if I can get any other information that might help you enjoy this more, I will pass it on.