Yes, the retaining ring holds the shutter to the lens board. What you see in photo #2 are two rings, though: there is a retaining ring closest to the lens board. It has the little notches that a spanner wrench can get into. Then there is another small ring above it. On the photo may look like just one ring. But it's two different rings and they sit on the shutter thread at a small distance from each other. I can easily get to the retaining ring with a spanner wrench and loosen it. Then it will rotate about one or two times until it hits the other ring right above it on the thread and comes to a dead stop. That second ring does not have anything that lets me get a grip with a spanner wrench.
I'm planning to follow shutterfinger's advice: loosen it up with Acetone and then try to get a grip with some kind of rubber.