Well, after considering Howard Lewis' point, I realised I didn't know if large (relatively) lathe spindles were through hardened or case hardened,or something else. After a bit of research, it is still unclear – it could be either. It is quite reasonable to through-harden a hollow spindle of this size. From what I have seen, this is the most likely in a high-end lathe like this, but some form of selective hardening may have been chosen.
dave8