how do I remove/replace studs on 7 1/4

I don't understand what you are saying. 7 1/4 axles do not have "C" clips. Just pull the drum, remove the 4 nuts that hold the bearing retainer/backing plate to the housing, and pull the axle.

you are right. The axle comes out with a puller. The FSM states that when pulling the axle, I have to replace the seal and backing plate gaskets. I don't have time to do all that right now. Perhaps down the road I'll do this.