What material did you use
I think you need to do as Boscoyo does. See link: http://christmaslights.nietzer.net/boscoyo-snowflake-assembly-and-pixel-order
Those show s1quare pixels, but you will need to do similar with bullet pixels to accommodate mounting.
12MM hole in front sheet, then clean out corrugating and back sheet. If you don't clean corrugating around hole, then snapping pixel in place doesn't happen. Don't think you can drill very clean, I used a router
Just skip every other hole on the way out the arm and then fill them back in on the way back down the arm
Boscoyo uses 10mm thick coroplast. If you got your coroplast form HomeDepot, it is likely -much- thinner.
I have no experience with square pixels in thin coro but for bullet pixels, you want a 1/2 inch (or 12mm) hole. Because the coro is thin, you will not have to clean out any back sheet or coro. Just press the bullet into the hole.
Some people can use a normal drill bit. Some use a Forstner bit. Some use a punch. Given that you are working in a tight area, I suggest testing with a narrow piece of coro to see what works for you.