I was over on the Creating Keepsakes website and found this tutorial:
http://www.creatingkeepsakes.com/vid...x.ihtml?idx=60
The play button is super tiny in the bottom left corner of the video. Just put your cursor down that direction and wait for it to change into the finger (or whatever your cursor turns to when there's something clickable).
Basically, you take the chipboard shape and put it under your patterned paper, and using your embossing stylus, emboss around the shape. I imagine you could do the same with the "negative" from the chipboard punchouts! It's a neat idea and makes your chipboard shapes go a little farther!
There are some other great techniques on their video page, too.