Re: Micrometric Precision Key Machine
http://www.homedepot.com/p/DIAL-4-oz-Evaporative-Cooler-Zoom-Spout-Oil-5714/100128593
Zoom oil also make Rustbuster that generally will loosen anything but has a smell you won't want to be using in the house. I never used liquid wrench but it is worth a try I suppose. Just Google penetrating oil for a few hours see what you find.
Maybe the pulley was tightened not on flat areas as mentioned in that link and it spun around making sets screw burred up groove that has it frozen on there even more than normal. Look down the set screw holes see what you can see if anything put the penetrating oil in the set screw holes and on both sides of the shaft let it soak for a long while then smack it around some and re oil it again. Try to get it to turn a little.
Kurt Vonnegut