Yes, without a better view of it, I'd heat, beat and hope for the best. That's the woods fix, for us poor guys on the Oregon coast. I WOULD buy or have made a new pin. The old one is most likely bent, and if not very well could have some internal fracturing from the twisting it took to bend that steel ear that far. OH! and have a real close look at the dipper stick cylinder rod on top there, they're designed to travel straight in and out, very little room for moving sideways. Could have a serious bend in the cylinder rod and/or a problem where the eye is welded to the rod.
:my2c