In case it is not clear:
The line "alzad los brazos hijos... " sung, and acted, during Franco's regime, was in reference to the gesture, copied from Hitler's salute.
We always said, "alzad los brazos", but we also said, "los yunques y las ruedas..." no "flechas", although "flechas made sense at that time, since "el yugo y las flechas" was a national emblem.
José María Pemán, himself, made tte alterations
> La Marcha Real o Marcha Granadera (antiguamente, Marcha de Granaderos) es el himno nacional de España. No posee letra oficial.
Sources: http://www.elgrancapitan.org/portal/index.php/mas/musica-militar/128-esp... & http://es.wikipedia.org/wiki/Marcha_Real. Versión José María Pemán. "Durante el franquismo, se alteró la letra de Pemán, cambiando «alzad la frente» por «alzad los brazos», y «los yunques y las ruedas» por «los yunques y las flechas»."
> The Marcha Real ("Royal March") is the national anthem of Spain. It has no official lyrics. This version was used during Alfonso XIII's reign and during General Franco's dictatorship, with two changes.