cdrover,
Using Steve's Stencil Printer and Key Chain Printer I have printed as you have described. Mine don't line up perfectly which they need to in order to come out right. It may be that I am printing out the first name and then the last name and different letters are not going to line up.
In Steve's video for 3d Racer Key Chain, the font he uses is like a block out of which the letter is
cut and each letter has its own block. This way the names line up perfectly. It's not the mychain font.