The problem is that sometimes, despite my best efforts, the paper template shifts a bit and the punched holes are not perfectly aligned, or when I am applying the waterslide, the decal stretches or deforms a bit and the labels end not misaligned with the holes

Has anyone tried to put the waterslide on an underlined box, coat it with clear, bake it, and then drill it and possibly clear it gain after drilling, or will this completely destroy the decal?
Any other hints for not getting the waterslide to deform when applying?
Thanks