Yeah, you'll want to use it just like your blade. Granted, your angle is pretty extreme compared to what I normally do (unless I'm in a tight spot), but that's me. It actually works a lot better with the leather noticeably wet without puddles. If it's dry enough to tool like normal - it's nowhere near wet enough. The key to remember is that there's no hammer to force the leather into shape, so you've got to press it into submission. Also, there's a sweet spot for the burnishing between bevel blade wet and tooling wet. I'm still trying to get better at finding it every time. From your picture (don't know if that's actually while you were working) all you're probably going to accomplish is sore hands from pressing too hard and skip marks from the beveler flying away from you (ask me how I know.....).
I think it comes with the shallow angle like that to really press down the open field of the design. But, I got myself another one that I can modify for really tight circles that the stock size will never get into cleanly - so obviously I'm not above modifications.