The lansky system is my second favorite method for sharpening next to freehand, but unfortunately I have had zero luck with it concerning very narrow and small pen type slipjoint blades.
To get a secure clamp on a peanut/pen blade, the clamp has to pretty much engulf almost the whole width of the blade, and even if you do get the blade situated in there, the blade usually slips and twists inside the clamp, or pops off altogether when you tighten it down. In my experience, the stone will remove more metal from the clamp and the screws than it will the small knife. Also, alot of times the bevel will be different for one side of the blade than the other due to slippage etc.
Sometimes getting everything situated for a small blade with the Lansky is impossible. For these little blades I usually just freehand them.