I found a link to how to make a variator tool that works:
http://www.scootertrip.com/reflex/FAQ/koehler/VPT.pdf
This is a pdf so give it a minute to load.
This is for removing a Honda Reflex variator.
The only difference with the Majesty is the two bolts that are M6 in the instructions may need to be a different size. When you get the covers off and have access to the variator find the two holes 180 degrees apart and get the largest longest bolts that will fit in them - they are not threaded.
The reason why you need this tool is because the variator is attached to the crankshaft - when you try to loosen the nut that holds it on the whole assembly just rotates.
Just looking at the diagram it's a little tricky to visualise what this tool does but when you are looking at the variator it will be obvious.
You can buy the steel bar stock at Home Depot or Lowes for under $10.
If you have never drilled a hole in steel here are some tips - get a centerpunch:
http://www.nobugs.org/engineer/woodlathe/IMG_1650.html
available at any hardware store, put the tip where you want to drill the hole and give it one good whack with a hammer - this creates a dimple in the steel that holds your drill bit in place. If you use the "next" feature in this link you will see how the person ruined an expensive drill bit!
To avoid doing this drill with a slow speed (you don't need a drill press, an electric hand-held drill will do), and put some oil where you will drill - this cools the drill bit. Regular motor oil will do. It will smoke and may evaporate before you are finished with the hole - just add another drop.
It is important to put a piece of scrap wood under the steel so when the drill bit goes through the steel it goes into the scrap wood. It is also important to CLAMP the wood and steel firmly to a workbench or put it in a vise - when the bit goes through the steel it may "grab" it and whirl it around with a lot of force - it if hits you it can be nasty.
With this tool you can remove the variator to:
change the variator weights
put on a Malossi variator
To get the variator back on you MUST force the clutch pulleys apart some to get some slack in the drive belt (the pulleys attached to the rear wheel).
Use a piece of WOOD to lever them apart - they are aluminum and the drive belt runs on them - you don't want to scratch them.
Use a drop of Loctite blue, use the variator tool again to hold the variator still so you can tighten the nut and torque it to 60lb/ft (83Nm).