Chris-
I have not looked into our Tsunami but I'm fairly sure that you could cut the cap and remove it to replace the transom. See the beer can in the picture on the right just aft of Bucks hand? Cut there, remove the rub rail, drill out the rivets and pop off the cap. The cap can then be glassed back in place and your good to go. Personally I dont like doing the transom from the out side as it is a lot of work fairing it out. In the long run I think it is easier, faster, and as you eluded maybe even a little "stronger" to do it from the inside. We are going to be restoring out 23 Tsunami very soon!
Strick
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