Okay.
The area retouched (poorly) in gold represents the adaptor. It just slides over the collar/column of the lens, and is tightened by 3 set screws on the side. Toward the center, you can see the raised M42 threads. without the screws, it just rotates freely.
The red area represents a rear element that I THINK is removable, with the optic in the center mounted in a plastic wheel. The side of it has ridges, as if to rotate, but with moderate pressure, it didn't move at all, so I left well enough alone.
Notice how the rear element protrudes slightly from the top of the M42 mount, with yellow line added for dramatic effect: