The 'nibs' are on the unmachined part of the camshaft
You will see the 'nibs' (two metal protrusions, rough cast) around the center of each camshaft and, yes, the camshaft has to be rotated a tad owing to the changes brought on by the new tensioners and rails. We're talking 2 or 3 degrees of cam gear rotation here - much less than one tooth and you can only replace the gear one way with the cut-out aligned with the Woodruff key.
Frankly, any way that allows you to grab hold of the camshaft to rotate it without damaging any machined surfaces will work.
The snag here is that there is very little clearance between the camshaft and the cam oiler tube that runs the length of the cam shaft. The tube is monted on the cam towers (you can see it in my pictures) using those foul plastic pieces which turn brittle and snap when you pry them off. The cam oiler tube is very fragile (thin section alloy).
You may like to procure a cam oiler kit and replace the plastic parts while you are in there - it's a cheap kit and removing the oiler tube will greatly enhance your access to the cam for rotation purposes. I did this when I replaced the fuel injectors - doumented elsewhere on this list. The old plastic oiler mounts break and are tough to get out, so set some time aside to do the job right.
Hope that helps.