I thought he was asking that too Davey. Its a bit difficult to answer without knowing the kit.
Before preparing the binding I would check with a magnifying glass to see if there are any hairline cracks in the binding first. I have seen problems where the paint has seeped into cracks in the binding even when taped off. If there are any cracks I would ask DB or one of the guys as to what would be a good filler for the cracks. and do that first. The wrong stuff may melt the binding.
Then I would follow the directions on the "how to build a pit bull guitar" in preparing the binding and take the time to tape it off properly as Davey has suggested. Any seepage of paint or stain under the tape will then easily be sanded off with fine grit.