That second flywheel has been bored, and a sleeve inserted. This could have been done to repair damage to the boss, possibly from being loose and wearing the hole over time.
I certainly wouldnt scrap it. In fact, by rotating the flywheel slightly in relation to the crank throws, it gives a good opportunity to arrange it for balance and smoother running.
In fact, the way it has already been offset this may have been done at some stage. At a guess, I would say the initial position was adjusted temporarily by those two grub screws, and then pinned to its final position by the axial threaded pins, or in this case, they look like allen head bolts.