stick a torque end in it using a hammer and then turn it round using a spanner or your hand it works for me
Thats the best option. Although they are called torques drivers, and you use a ratchet driver to turn it. You will find that a torques bit that normally won't fit a new allen headed bolt, will fit a worn bolt perfectly. I definately wouldn't try drilling it, as it's a stepped hole. You could ruin the calliper Take it to a shop if mole grips or torques bits won't fit. Last chance is send it to hope, they may even service the calliper and brakes! I sent a rear wheel back to get a new ratchet fitted, and they changed the whole freehub, at no cost. Worth a try!