Found it in a bin of junk. I think it is an eccentric stud remover. But in 1/4"? Says GILBERT, in pretty good shape. No wobble in the mechanism.
(http://i510.photobucket.com/albums/s345/tankerG/IMG_1638.jpg)
(http://i510.photobucket.com/albums/s345/tankerG/IMG_1635.jpg)
(http://i510.photobucket.com/albums/s345/tankerG/IMG_1639.jpg)
What industry would need such a small stud remover? I've seen them in 1/2" and 3/8", but not 1/4". Hydraulics shop or something?
Also used to unscrew small diameter pipe, and things threaded inside other things, like tubing diameter adaptors, very handy tool to have, and hard to find that small : )
GG guy found it. It's a Gilbert Terminator tool. Cam-Loc action for cable TV repairman.