That's actually the part that worried me. Its such a thin dent. Most substances don't like to be thinned out that much, and usually not fanned out to nothing. That outside edge will usually flake off.
Bondo, on the other hand, it's designed to be sanded out to nothing. And it dries hard. As long as it will stick to the aluminum, that should be the easiest way to go. And cheapest. AAND I don't have to tear the machine down to do it. Perfect. Cause it's a busy machine right now. It's probably seen over 100' of belts in the past few weeks.