Heat the bolt enough to melt a little rubber as you push and twist the instrument through the pilot holes. This procedure will spread the cord, rather than cut it completely. Don't heat the bolt too much, or you will defeat the whole concept. Use of gloves and vise grips are recommended. This is a long and arduous method, but you'll limit the track damage to a coat hanger size hole.
Track adjusting is reduced to an annual chore, and track life is no longer challenged.
None of the above is necessary when installing 48 studs on your kids Sport, not enough holes or power to distort the track. If track replacement is being considered, select the track with the widest clip openings. Avoid new tracks that have reduced the number of clips and clip openings. Eliminating the friction that was wearing out your slides, be it too tight a track, too long a front limiter strap, or whatever, will translate into serious performance gains. The following may remedy that situation.