Ummmmmmmmmm....... I checked mine btw the best I could, and it's about what you came up with give or take. And as you can imagine, tough to do installed on the bike. But, I'm thinking the bush is fine, as long as you had enough washers under the nut and the inner bush and rubber were not damaged. The bush should be a bit oversized so it stays put. And according to your measurements.... at least close to the opening, it's not THAT tight. But.... it may tapper tighter inside. Have a look down from the other side with a flashlight, and see if there is any curled up or raised metal on the inside edge of the bush. It may not be champfered on that edge and is chisling up the steal.... have a look at your other one and see how that surface is.
However, I think you can pull it back out without damage. Here, try this..... Not and Enfield swingarm, but so you can see how to arrange thing inside the tube, tighten the top nut, and draw it out and inside the pipe.....make sure they is a little wiggle room inside you pipe.