Was just going to grab the "nipple" with some channel locks (ouch!) and hope I can unscrew it.
Any words of wisdom greatly appreciated!!!

 

If there's nothing to get a box wrench on,
Get an "Easy-out" kit from your parts store, Sears, etc- looks like a drill bit but is designed to grab and remove in a counter-clockwise direction. GL!

 

Well, came out REALLY easily. I'm thinking it is the threads in the caliper which are stripped

 

Doubt it, any designer/machinist knows that you have to use diff strength metals, and one is designed to fail before the other by using harder/softer materials.
Post a pic of your bleeder valve threads, or better yet-
Just swing by your parts store/stealership. These should be a shelf item.

 

I guess the caliper is aluminum, so that is the softer metal - and therefore the one that is going to strip first.

 

Yep, it is the caliper which is stripped

 

HI OP - any update / luck with this ? I'm currently having an issue with my bleeder valve not stopping bleeding on my left rear caliper. Swapped that bleeder valve with a spare, still the never ending bleeding. So I'm worried I have a stripped caliper now too.

 

There is a thread by a member here "N80" in the autocross/road motorsport section which I think you will find helpful