The Novatec track hubs are already 120mm, so if you don't want to change either that or the chainline, you just re-use the spacing nuts and locknuts just as they left the factory.
The axles need to be shortened and tapped per this drawing, but symmetrically if you're not changing the chainline.
http://static.lfgss.com/attachments/83683d1398728518-novatec_axles.png
When modding a front axle as per the diagram what would bear the load the axle or the bolt? i.e. would the axle protrude from the lock nuts and sit in the fork drop out or be cut flush with the lock nuts?