Buck Vantage's only weigh 4 oz. (which is about my limit for an EDC, unless it's in a sheath) and the Vex is approx. 4.8 oz. Do you really need to cut that weight down? Just wondering . . .
Here's edited notes, on what I did a while back to one of my tacticals. This will remove a little weight, and you'll be able to tell if it's significant enough by weighing before & after.
1: If you can, weigh the knife first. (I use a kitchen scale.)
2: Take the knife apart, and using a sharpie marker, mark all the pre-existing holes.
3: I start with a small drill bit, and drill a pattern of holes all over the liner. Do not drill any holes in the locking lever, or around the area where the lever attaches to the liner.
4: Drill small holes first, then move up to a larger bit & drill larger holes, using the smaller holes as guides. Do this until you have the holes drilled to the size you want them. Don't drill the original marked holes.
5: (I do this step, as it make cleaning the knife easier) Use a countersink bit in the drill and ease the edges on the holes, on both sides of the liner. DON'T DO THIS TO THE MARKED (pre-existing) HOLES!
6: (This is optional too) Match up the liners their respective scales, and using the holes as guides, drill into the scale far enough to remove a little material. Be careful not to drill all the way through. Use fine emery cloth to smooth out the scale holes.
7: Lube & re-assemble. For cleaning, I just use an old .25 cal. nylon bore brush; since all the holes line up, and the edges are smooth, the bore brush works really well.
8: If pivots loosening up is a problem, I use a small drop of clear nail polish in the pivot. It's semi-permanent, but can be dis-assembled later if needed.
There it is. For a knife 4 oz. or under, it may be a lot of work. Anything over 4 oz., like that Vex, might be worth doing it to. Good luck, and let us know how it goes.
thx - cpr