it has regular threads and will loosen when turned to the left.
i cannot agree with plumber on this one, the compensating assembly cushions the drivetrain and makes it easier to shift the transmission.
i used to have a belt primary, i switched back to a chain and compensator. the bike shifts and drives better without the jerkyness i experienced with the belt (the belt was geared way to high anyway)
also, i know the chain compensator combo will not fail in the middle of nowhere!
all that just 'cuz you wanted to know what way to turn it!
btw, have you made the tool to get the nut off yet?