Why even bother with paper piecing it? It's just a Bright Hopes block in a Bright Hopes block in a Square.
Make the inner square and strips as a Bright Hopes block (very easy and will give you a much nicer rotation on the narrow strips), then add the triangles as for a Square-in-a-Square, add the second set of strips as another Bright Hopes, and finish with more triangles. Simple to make and no paper to worry about.
http://quilting.about.com/od/piecing...tial_seams.htm
http://quiltville.com/sqinsqtutorial.shtml