You can remove the plastic nut without damaging the wires. I have two of them mounted to my control panel and the nuts came off just fine.
You'll have to unscrew the nut from the thread and slide it all the way to the bottom, but don't yank it off. Gently pull the nut off the side OPPOSITE the wires and you're done. On one of mine, the black cover at the bottom came off exposing the little PCB and wire joints, but it popped back on easily and didn't do any damage coming off. If the nut is too tight to be pulled off, try prying that cover off for more clearance.