I always tear my repeats at the same spot. I tear because that way I am sure the repeat is the same all the way across and I haven't accidently cut off a match point! But there will be some loss when you cut your strips no matter how you do it. Since you are pinning exact points before cutting, it should be ok. I open up the width of fabric and use the whole 44". Some might cut on the fold and I am sure that is fine, I just never do.
And I didn't get the cutting instructions either until I took a class on OBWs. I just stared and stared at the book! LOL! I need someone to tell me and show me.