I’ve broken two bits trying to get them out of the CCR/Makita. There’s no hope of getting them out without removing the router from the core and even then I’m having to resort to pilers which of course is a great way to break them. Clearly, I’m doing something wrong, but not sure exactly what to try.
I had this problem a few times, but it has not happened often enough to figure out the reason. My solution is to remove the nut and take out the collet. Then I drove the bit out using a broken bit and taps with a hammer.
I can’t even get the collet out when the bit is still inserted 
Any chance there is a mis-match here? Like you have a collet for 6mm bits and are inserting 1/4" bits? My collet can be removed by hand even when the bits are stuck.
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I’m using the collets that came with the CCR which are advertised as 1/8" and it seems to glide in and out without the nut on. I just did another test with a 3rd v1 bit and it was just as difficult to get out. Some light tapping with a screwdriver handle and WD-40 and I eventually got it out without breaking it. I then started playing around with how tight I put the nut on. If I turn it 1/8 turn past finger tight, then it was easy to get the bit out so maybe I’ve been overtighting the nut. 
Hmmm. Something is fishy. I don’t have the Makita, and bits can be sticky, but that sounds very odd. Especially not being able to remove the collet after you’ve removed the nut.
I wouldn’t use wd40 on the collet. If that bit ever slips while working, it can quickly destroy a collet.
I always push the bit all the way in, and then pull it back out a few mm before tightening. My big 1/2" shank bits on my much older router get stuck sometimes, and I give the shaft a light tap with the wrench and the vibration is enough to make it let go. But I haven’t had a problem with any of my 1/8" bits.
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I have a similar challenge with 1/8” bits on my Ryobi Laminate Trimmer but I’m using an aftermarket 1/8” to 1/4” collet. I ended up wrapping the ends of some pliers with tape to reduce the chance of the pliers damaging the bit. I’ll grab the bit with the pliers in my left hand and use my right hand to tap on my left hand to slowly pull the bit out. I’m using my non-dominant hand to grip so I reduce the risk of applying too much clamping force to snap the bit and the hand holding the pliers hits the table first if the bit comes lose preventing the bit from impacting the table and breaking. Hopefully something like that helps.
Remove the nut and collet from the router, insert the collet into the nut until it clicks. Then insert the cutter into the collet and nut and then screw the whole thing onto the router.
There is, or should be a ring inside the nut and that is supposed to lock the collet into the nut.
If it is not done properly the nut will jam the collet into the shaft of the router.
This shows how to do it better than I can explain it.
Thanks for the tip @Paul-saunders . The CCR/Makita with included collets doesn’t “click” in. There’s nothing in the nut to hold the collet. @jeffeb3 I’ll try your tip as well.
For what it’s worth, I bought a new 1/4" bit and that seems to fit the 1/4" collet better in the sense that after fully installing the bit it’s easier to remove. Tapping with the back of my rubberized screwdriver seems to reliably work so no more pilers or WD-40.
This happened once or twice to me as well, and then I stopped tightening like a mad man and never happened since 
I also have been tightening like a mad man. I’ve been playing around with turning just past finger tight and that seems to make it easier to get out.
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I have had issues like that before when a spindle motor has been changed on one of our big machines. The culprit is a rust inhibitor gumming up the collet. Just check that everything is clean.
This is how most endmills (from v1 or otherwise) that I have purchased have fit in either my stock 1/4" Makita collet or in the aftermarket 1/8" collet I purchased. I use a pair of channel locks to remove endmills, If I grab the endmill by any part of the cutting surface it tends to shatter the endmill, but if I pull by the round, non cutting surface of the endmill, it takes some force but comes out fine. I always remove the router from the gantry to change endmills
I thought that all ER11 style router collets had the ring in them . I have the original Makita trim router and that uses a different style of collet, but I was comparing it to the old Elu/ DeWalt router which use the ER11 style collet and nut.
Glad you’ve found a better way of removing the bit.