You're correct. The cable releases at the outside of the rt-angle adapter. Does the speedo cable knurled collar slide up the cable jacket, or is that stuck? If it slides up the jacket, the end of the jacket is probably varnished to the right angle adapter. A pair of pliers should allow you to break the seal & remove the jacket.If the collar is stuck, you'll have to free it up again with your pliers, but unless you're replacing the cable AND JACKET, don't brutalize things too much or you'll need to replace the jacket, too. As long as the bolt retaining the right-angle adapter is not disturbed, the speedo gear will not fall inside.
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