The success of repairs like you're attempting depend greatly on (a) your skill and (b) the quality of the specific materials you use and (c) the quality of your application.
If you are talking about cutting down the wall, to allow you to run a new pipe, you should be aware that cutting the re-bar will greatly compromise the structural integrity of your pool. In stable sandy soil, this *might* not be a problem, but I wouldn't do it myself.
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