Trimming Worktops

I suppose the simple answer is suck it and see. I'd be inclined to use the 5mm overhang and try trimming 2-3mm off it and see how it goes. If all goes well then then take the final lighter trim off. I'd start with a fresh bit. I find replaceable blade bits the cheapest and best way to do this . I use Wealden and find them excellent

You probably could manage it in one pass - however it will be easier to do in two or three.

(You could make a 10mm pass to make sure you get a clean edge on the laminate, then do the rest in a second pass).

Propping the jig so that the free edge can't bend down under the weight of the tool helps as well - stops you getting a very slight bevel on the cut.

for best results I try to cut to about 2mm

Less chance of cracking the finish too