It is not as critical as re-shaping a blade, but make sure the steel doesn't get too hot. Most bench grinders have a water pot attached to them for this purpose. Grind a little, then cool it in the water. If you get it super hot, you'll change the temper, and it may snap on you next time you go to use it.
Personally, I think the package opener is a BRILLIANT idea. That is probably 75% of what I use my knife blades for, so if I could use that to keep the tape glue off of my real knife blade, it would be as happy as a clam.
But if you made it into an awl, and made the edge relatively sharp, you may be able to accomplish the same thing. I use the awls on my SAKs as multi-purpose poking and prying tools. I don't have to respect the edge on them, as they rarely need to be too sharp to do their job.
Lastly, you may want to consider using a Dremel or other rotary tool with a grinding stone for this job, as it will be MUCH easier to do precision grinding this way. The cooling isn't so easy though, as you would probably have the Leatherman clamped in a bench vise or something. Dremels are SOOOO bloody useful around the house. If you don't have one, get one. You can get one for $50 or less, with bits included. The cut-off wheel has replaced the old-fashioned hacksaw for me.
