If you have adjusted the rod, then you can remove it... Simply keep spinning it out and then it will just come out.
And as said above by Ray... the ball ramp assembly is what takes the clutch cable pull and pushes the rod out on the primary side. On your stock setup it pushes against the back of the clutch diaphram (a plate that simulates springs like my new banditt has) This releases the tension that hold the clutch plates together. Which "disconnects" the power from primary to the tranny input shaft.
The center hole is where the clutch rod comes thru
Then wth my setup there is a "tip" on it
Then the end plate with springs that push the plates together till your clutch rod pushes out on the plate releasing the clutch plates as I said above
EDIT:
I found pics of my old stock setup. I think your 2005 will be the same.
Assembled
Under the clutch diaphram
The pushrod is in the center