A blacksmith would say it's very heavy (because nothing's too hot, they drop it because it's heavy ;-)
Let's look at this logically.
Why would the nut get so hot (unless someone used a torch)?
Because of a large-ish amount of power gets converted to heat.
That shouldn't happen on a connection. What causes power loss in casas like these?
Resistance. When does a connection have a higher resistance than normal?
Loose nut, corrosion, or both.
I asume the "wire" (and a cute little thing it is, too) is intact and not broken or damaged at the connection point (at or inside the lug)?
If you want to repair this, shut off the system, and wait 10 - 20 minutes for it to cool (and yes, I forgot that once ;-)
Then unfasten the nut and remove the lug. Give the lug, copper bar and screw a good scrub with a brass brush and check for any damage.
Put some fresh shrink tubing over the lug, leave enough clearance around the hole to ensure a good solid connection between the lug and the copper bar. This might have been the original problem.
Get a new nut and, if all else checks out, connect it again. Make sure to tighten the nut properly, but not too tight, or you will destroy the screw.
Check to ensure no tubing is between the lug and the bar, and try wiggling the "wire". If satisfied with the connection, power it up.
We nearly had a forklift battery explode because of something similar, so I wouldn't wait too long.
Or, if you don't feel up to the job (which isn't uncommon in scary high power systems), tell someone who is responsible for the system, before you get hurt or start a barbecue ;-)