The very thin blade and even thinner edge grind, on the Peanut and similar tiny knives, is what makes it tricky. It's very, very easy to radically alter the shape of the apex in just a pass or two, because the edge is so very thin. If pressure is too heavy, the edge can be rolled; if the angle varies just a bit from one pass to the next, the bevels and apex can be quickly rounded off and will just get rounder and smoother with each successive pass (this is likely what you're experiencing now). For these reasons, it's important to check the results from each and every pass, one at a time.
With the Sharpmaker, I'd go back to the medium (brown) rods on the 30° setting, and take it one pass at a time, very carefully to control the angle, and lightly to avoid rolling the edge. Check to see how the edge is changing after each pass; try cutting paper and/or testing with your fingertips. If you detect a burr after the pass, then switch to the other side for a single pass and do the same thing, checking for the burr 'flipping' to the other side, and for sharpness. I'd avoid using the corners of the rods at all, as they'll just focus pressure against the edge and make it even easier to roll it; use only the flats of the rods instead.
It may sound contradictory when talking about the Sharpmaker (it's supposed to be simpler), but I've found it easier to set a thin & sharp bevel on such small-bladed knives using a Fine or EF diamond hone. It's easily possible to set the bevel in just a pass or two, because the diamond works very quickly on such a thin edge in simple steels. This is why it's easier (to me) to use a diamond hone, because limiting the number of passes will also minimize the errors which come from multiple passes at varying angle and pressure.
(An additional complication with the Peanut and similar small knives: because the handle is so very small, it can be much more difficult to maintain a controlled grip at consistent angle. This is what bugged me for years, in trying to sharpen knives like these, because the knife never felt 'right' in my grip, from one pass to the next.)
David
