Yea, I just checked in my bin of trimpots and I have a few very small ones that have a hole that goes straight through like the one in this speed controller.
The circuit board even had a hole designed into it to allow for the twisted rod to go through.
The funny thing is the flat spot on the blue plastic which unfortunately you can't really see well in my photo. It switches on and off the power to the drill by pushing two metal contact together (I guess you could call it a cam). Maybe they just took those standard trimpots and sanded a flat spot on them at assembly time.
Looking at the back of the board it looks like the metal tabs are connected to the ground wire. When the pedal is all the way up, ground gets disconnected.
Now that I've figured out how to change the collets and bits and found the speed controller might have some use for it. I might make a jig that lets me use it as a drill press. It's still a bit too fast to use as a regular drill but it has some scary amount of torque!