So I did some experimenting.
Made a scan of "Overlay Sheet 1" at 72 dpi in black and white (monochrome).
Then I edited the image in an image processing program to remove the hex-center dots and other stuff to get a monochrome image.
Then I uploaded the image into "Cricut Design Space" and had it automatically remove the background (e.g., have it automatically create cut lines along the boundaries between the black and the white).
Then my wife helped me cut the image (on a plain blue piece of paper):
Thoughts:
--The backplate you put the paper on is sticky, so removing the thin paper caused it to curl. I'm sure that'll be less of an issue with cardstock. (And when peeling off the paper, you're apparently supposed to curl the backplate so you can peel the paper off without curling.)
--I don't know of an easy way to move the cutlines in by 1/16th of an inch or so, as I would want to do. I suppose I could shrink the image by some small percentage, but then I'd have to re-center each of the overlays by hand. Hmmm.
It was an interesting experiment.
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EDIT:
The process I'll try next:
--Scan the overlay in monochrome at 300 dpi.
--Remove the clutter in an image processing program.
--Save the image as 8-bit color.
--Copy each of the overlay blobs in, say, red, and shrink them just a bit, and then center them overtop of the black overlay blobs.
--Turn the resulting black trim to the color white, then turn the red remainder back to black.
--Save the image as monochrome again, and either shrink it to 72 dpi or try to shrink it in Cricut Design Space.
There'll still be a few issues to iron out, like keeping the straight edges on overlay #1 unshrunk, but that shouldn't be too difficult.