What does the cryptic crossword clue "With pins visible, a bleeder badly cut by mount (10)" mean?

The wordplay uses an anagram. anagram of GG (synonym="horse, ‘mount’") + BARELEED (synonym="BARELEED") = BARELEGGED The answer is BARELEGGED.

With pins visible, a bleeder badly cut by mount (10)

Guardian Cryptic #29371 | 13 Down | 2024-05-01 flower