all you really need for this is a vinyl blade holder and a short length of tubing.
I used a piece of 3/8ths ID steel tubing but even a pen tube might work if you can find the right diameter.

you can use masking tape to wrap the end of the blade holder to keep it inside the tube instead of set screws.

I drilled and tapped a hole for a set screw on both ends of the tubing one for mounting it to the blade holder and the other I had planned on using to hold pieces of broken carbide drill bits as weights but after testing I found the weight of the holder and the tubing was enough to cut with (1.5oz total without weights) 

vinyl cutters usually have adjustable pressure but I can only see that being needed if you were cutting vinyl or paper that wont lay completely flat.
I was able to cut thick cardstock without any major hiccups.

I would highly suggest using a solid surface with a cutting mat for cardstock the board that comes with the axidraw is just too flexible and can cause weird drifting effects.

you will also want to change the "Writing/drawing speed%" down below 20% to start with as well as setting it to "use constant speed when pen is down"