I have also tried the Binding Tool, and just don't get it.
I found this video several years ago, and it depicts how to sew your binding on, without seeing where it starts and stops.
http://www.youtube.com/watch?v=Ot7Trk6J2Vw
So, I continue to do it this way. Here are a few pics of how to do it.
[ATTACH=CONFIG]430685[/ATTACH]
[ATTACH=CONFIG]430686[/ATTACH]
[ATTACH=CONFIG]430687[/ATTACH]
[ATTACH=CONFIG]430688[/ATTACH]
[ATTACH=CONFIG]430689[/ATTACH]
[ATTACH=CONFIG]430690[/ATTACH]
I find this so much easier than trying to use the binding tool. Hope this helps.