Spartite sets up like a hard plastic, I trimmed and shaped my Spartite collar with a razor, you could cut larger sections with a fine saw. I would not attempt to cut it after you have poured it and it has set up, you are likely to make a mess that will not be water tight when you reinstall the mast, defeating one of the benefits of using Spartite, not to mention there is a wider ridge at the top.
If you just create a smooth collar using
epoxy before pouring the Spartite, you should be all set. As SD suggests, fill the area between the two ply layers with a West
epoxy/Silica paste, then seal with a coat or two of straight
epoxy. Sand/file between coats to produce a smooth wall all around the partner opening. While it would be nice if the collar tapers, as long as it is vertical and smooth, the spartite will remove and re-insert OK. The 5-inch metal mast collar on my CS is not tapered... a little vaseline and the spartite plug goes in and out just fine.
Good luck. and