tom wrote:
It's possible, but I think it'll get a little scary at the ends of your
stock, without both fences in play. Maybe rough cut the stock extra
long/wide to avoid the teetering, and give your fingers some extra
room? Is there a bearing somewhere on this bit? Tom

Yep, that's the way to do it. With enough extra length, I won't have
to get the end of the piece (or my fingers) any where near the bit and
it will always be indexed on two points. The bit has a bearing, but the
fence will control the distance from the cutters.

Great suggestion, thanks!