The medallion and hardware should be easy to remove. It is the compass that has me puzzled. I suspect that any prying or pulling on it will ruin the cover (crystal?) as they are thin and easily cracked. Perhaps a replacement compass could be purchased from Bear and then you could proceed knowing that you have that covered when it is time to go back together with it. Or you could carefully tape up the compass and use spray to refinish after shaping the grip. Taping it would be my choice, I believe.
I seem to remember seeing replacement compasses in the 3 Rivers catalog but don't know about the quality.