So basically, you remove the pulley, rotate it and then push it back on the water pump shaft itself... Then you loosen the bolts around the water pump by holding the pulley out of the way... Once all the bolts are loose, then you take the pump off WITH the pulley...
I remember now because the first time I did a water pump, I did the whole engine at the same time... That when I realized that you have to remove the water pump AND power steering pump FIRST BEFORE you pull the engine... So when I figured that out, I left the P/S pump and water pump off... When I bolted on the water pump, I had already bolted in the engine mounts and tranny bolts; the engine was "in"... I realized that I could not get the pulley on; so, removing the motor mount again would have been an option... Then I figured by the shape of the pulley that I needed to put them on at the same time and all worked out without having the motor loose...