It can be rebent the same way it got bent the first time, forgetting to tighten the lugs. It was overlooked before, chances are it will be overlooked again. It doesnt matter what type of metal it is. Once its been bent, and then rebent it is weakened.
If it was me I would replace it, I guess 18 years of riding and working on quads, and 16 years of working on cars has made me cautious. If I have a faulty part, or compromised part on any of my vehicles I repair it, and repair it right. Im not puting my safety are my families safety at risk for a measly few bucks. Hell a stud only costs $2.00 and can be replaced at home in 5 minutes