I use it on Zwickeys, and their thick tip is an obstacle at first.
What works for me is to use a black marker on the blade, then use the KME first with a #80 grit sandpaper, and use it till the marker wears uniformly. At the beginning it will wear on the tip and at the end of the broadhead. Continue till it wears down along the whole blade. After that, you can go to a #120 sandpaper, then to the #300 stone. Put the marker back every time you switch grit. After I am done with the #300 I can feel that the actual sharpening process has begun. You shouldn't need the marker after that, and use #600 and #1200 for sharpening.
More in detail: on the sandpaper I only run the blade "away" from it, as I am not sure the blade might cut the sandpaper. On the #300 stone then I run the blade both directions till the marker wears out. You only need this once per broadhead; once it's done, you have rebeveled it and removed the "excess" tip coating.
After that the sharpening starts: I do 300 --> 600 --> 1200 only toward the blade. These last three are the actual sharpening process, and they require lighter pressure than the rest. Basically the weight of the KME is enough ( use diamond stones). For future sharpening iterations you might just need the 600 and 1200 steps, depending on how dull/damaged the blade is.
Another thing I have noticed is that if the angle is not acute enough, they won't come razor sharp. So you need to set the KME to the angle that makes them as sharp as you like. The more acute the angle between stone and blade, the sharper it will come, but the edge will be more delicate, so I like not to go all the way down with the screw.
Just my two cents, hope it helps.
Best,
Max