I just finished mine with this stuff, and it was actually really simple (if slow, because I was being cautious)...trace the outline of the cutout, trim the acrylic, test fit and repeat.
I found I had to trim the acrylic more than I initially thought because the "slope" of the clear lens caused and interference. I then blacked out a strip around the edge of the lens with Sika primer on the inside of the lens to hide the stack-up (for landing light, metal heat sink/backer, with acrylic on top of that).
The mirrored stuff looks really awesome now that it's done...
ETA: One other thing...if you're using the Van's landing/taxi light mounts, as I did, I found that drilling the holes for the screws should be done at an angle to the surface of the acrylic (i.e., the hole is drilled parallel to the chord, which puts it at an angle to the surface of the mirror) in order to make the screws and spacers work correctly.
I can post some pics if it would help...