A week ago I noticed coolant leaking/seeping from the water pump on my 4.3L 01' Blazer. I know the job requires the Fan-Clutch Removal tool. But does anyone know if the large nut that holds the fan-clutch on is regular or reverse thread ? Any helpfull advise or tips from anyone who has done this before ?

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It's (regular) right hand thread.
There have been times when I didn't have the correct tools to remove the fan clutch and I have used a large cresent wrench and a 2lb hammer. ( not the reccomended method)
I left the belt on for some tension, then put the wrench on the nut and smacked the handle of the wrench to loosen the nut. It has to be a very quick, hard and accurate hit. If you have any doubts, rent the special tools.
For installation, I just reversed the procedure. I also applied a couple of drops of thread locker on the threads for assembly.

 

Thanks, I already rented the tool but wasn't sure about the thread. Looks like it's a some what easy fix. We'll see how it go's this weekend.