Bad advice. The fact that side wobble changes as the wheel rotates on the shaft is a good indication that the flanges are not at a right angle (the shaft can also be bent). If you tighten the fit of the bushing, you introduce a great risk of cracking the wheel when the nut is tightened. There should be enough clearance on the bushing to permit the wheel to seat without adding stress.
Joseph---------
Pay close attention to how the flanges mate up with the shaft. If they are a slop fit, and free to wobble side to side, you'd be very well served to machine new ones that restrict that ability, but they MUST run true, otherwise you run the risk of cracking the wheel. Assuming you have wheels (not *stones*) on each side, the fixed flange is the one that's critical. It should run dead true-----the opposite flange benefits if it has the ability to cant sideways ever so slightly, to compensate for that occasional wheel that isn't dead parallel.
If you can get your grinder to fit this description, the wheels won't change if they rotate slightly on the shaft.
You should be able to grip the wheels by hand and tighten the nuts well enough for good operation. Don't get stupid and get around the lack of a lock-----it's lacking so you won't over stress a wheel. If you had the ability to lock the shaft, under the wrong circumstance, you could overcome the blotter's ability to absorb uneven clamping pressure and crack a wheel.
Harold