That can work if you are lucky but can, when you are unlucky, cause the axle to move out of place or even sometimes lift the vehicle off of the axlestand. Bashing out frozen bushes compounds the risk factor.My advise was to slowly raise the front of the leaf spring to align the shackle pin holes, assuming you have an appropriate jack stand at the frame behind the hanger. This is the easiest and safest way unless you remove unbolts and support axle so you can align by hand.
We do a lot of suspensions each month on new 70 series Cruisers and even highly experienced staff have come close to hurting themselves when they take a shortcut by not undoing the ubolts. The safest way for arelatively inexperienced wrench is to take the tension out of play.
Good opportunity also to check the condition of the centre pin and locator hole in the axlehousing and smear some grease on the axlepad to combat rust.