If it's like mine, you just unscrew the ½" collet until it comes off and screw on the ¼" collet. The nut and collet are combined. Unless the ¼" is an insert for the ½" collet, in which case I don't know what I'm talking about. Check the maual that came with the router. No biggie.
To your second question, I use a Mastercraft router and a ryobe table. With the router fully raised I can turn the collet nut and replace the bit without removing the router from the table. Try it and see. This stuff is surprisingly hard to break.
I'm not slow, I'm pacing myself!
Isaiah 44:13 Another shapes wood, he extends a measuring line, he outlines it with red chalk. He works it with planes and outlines it with a compass...
Usual kit: Table saw, band saw, dual base router and table, lathe, various saws, planer, sanders, and a multitude of hand tools.
Last edited by The Warthog; 01-09-2011 at 10:55 PM.