The finish up this thread, the reason Service Bulletin was written, the reason the flywheel key let go, and why I couldn't control the RPMs, and ultimately the reason I couldn't start my M18 to begin with:
When the engine "overheated" the pressed-in Governor shaft backed out and the Governor itself fell into the engine:
One of the weights was separated from its spindle:
This evidently happened when the weight came into contact with the connecting rod for the #1 piston, the one nearest the flywheel on the left side of the engine (facing the tractor), just below where the governor is mounted on the engine.
The contact appeared to occur when the rod passed closest to the left side of the block (Side #1) and was responsible for the damage as seen from the outside which I posted earlier, now seen from the inside:
Everything appeared to have occurred as the crank pin was moving upward in an clockwise rotatation, as viewed from the front of the tractor, PTO side of the engine.
Despite Jim Diederichs' assurances, I don't feel confident putting "Pig Putty" over a crack this large and so near the mounting for the cylinder barrels. Neither am I convinced that welding the aluminum is going to yield a "good" part, I'm afraid the aluminum will warp in unforeseen ways. In either case, the risk of further damage appears too great to me.
Thanks to a fellow Cub enthusiast, I have located a replacement block for a reasonable price. The other parts, with the possible exception of the #1 connecting rod appear to be OK, including especially the pistons and the cylinder bores. I will post detailed photos of the tear-down on a different thread, since I would appreciate expert (and amateur) assessment of the wear patterns before I make a final determination.