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Use the jig to determine how the blade fits into the holder. The jig determines the length of the blade exposed and the bevel angle.
Sharpen the tool with a medium abrasive. With the tool in the holder, ride the holder saddle on the guide rod of the machine as the tool is running. Move the blade back and forth against the abrasive until you get a wire edge. It only takes a few moments to sharpen a tool.
Use a finer abrasive to remove the wire edge. Alternately ride the holder on the guide rod, then flip the blade over and hold it against the abrasive to work on the other side.