Thanks gents for the advice.
I was troubled by the potential danger that could be from heating bakelite and have been hoping there would be a safer solution. I would try chipping it out (I successfully and easily did this for where it was on the rings and the porcelain around the sockets when i pulled them out), but my conduit has a bend 3/4th of the way up which woudl prevent that (a big reason why I don't really want to replace it either).I may try chipping a bit on the idea that there was a bit at the top and bottom to seal things in, but if it is all the way through, its going to be a problem.