That "someone" was me... my Craftsman router was missing a clip that forced the tapered portion of the collet assembly out of the router when the nut was loosened. If you look at the collet that showse above the nut, you should see a small groove. It is this groove that the clip sits in, it's a 3/8" clip. If, like mine, the clip is missing, try sticking the blade of a small slotted screwdriver in the slot and then loosen the nut agains the screw. Shouldn't take much force to pop the collet out. Then off to your local hardware supplier for another clip. I got mine at the BORG.
Sometimes I wonder whether the world is being run by smart people who are putting us on
or by imbeciles who really mean it.