Update: Finally did go ahead and cut my first paddle. Just shortened it an inch (no fancy cut-out this time) but did the trick.
Will be using it tomorrow so it should play like the paddle size I'm used to playing (25").
Covered the cut area with stretch wrap tape and sealed along the edges with white tape, covered by some clear on the ends, as well as the middle.
I don't mind using clear tape in this area as it doesn't interfere with me gripping the stick, but I still feel I can throw out a poke check and am still able to reel the stick back in with ease.
EDIT: Used the stick and it felt great!
Now hoping it holds up. You just never know with a paddle mod how it may affect durability/longevity of a stick (i have heard varying opinions on this subject), but here's hoping. I am not a big puck-playing goalie, so hoping this will help a paddle cut mod last a bit longer.