I have had very good luck taking apart Paramount hubs using a vice, a large socket and a hammer. I remove the axle, open the vice about 1 1/2", just enough to get the spindle in, rest the flanges on the top of the jaws (something like jaw protectors on the vice helps), take a socket that is larger than the hole in the hub, and hit it with a hammer. Usually 2-3 light blows will push the hub apart. As mentioned before, the sprocket side of the hub screws on. I have taken apart 6 hubs to date using this method, and have never damaged a hub. To put the hub back together, I open the jaws wide enough to press the whole assembly back together. Remember to offset the holes!
Scott McCaskey