@bdc said
"If the individual is "bound and hoodwinked" throughout a large portion of this ritual, how exactly are they expected to perform various actions, such as the cuttings, anointings and gestures during this portion?"
The best kind of "binding" is a pair of handcuffs. (For example, after you unlock them, they shake off at the end with the proper motion, make a nice clank when they hit the floor, etc.) You will find a good selection at most sex shops (plus, usually, somebody quite happy to help you try them out and patiently see which ones work for you). Make sure you have cuffs with enough flexibility (rotator in the middle, etc.) that, when you have the key in your hand, you can unlock them. Cuff your hands in front of you, and you will be able to do everything you need to do for the ritual (including adjust the hoodwink as needed). (The key goes on the altar. Don't lose it <vbg>, and make sure you have the spare somewhere in the room.)
That takes care of the harder of the two from a "how to make it work" point of view. The hoodwink is trivial compared to that but, of course, provides a different set of problems to overcome: navigating without sight. The answer is: You simply have to be able to navigate without sight! Know where everything is. Feel your way around. Other than the circumambulating, there isn't a single thing that happens that is so abrupt that you can't make your way through. The easiest aid is to make sure the room is dark except for candles placed in key places - the candle light will penetrate through a layer or two or black fabric (don't get something so opaque that it won't).
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Towards the end, the "brow" (forehead?) is anointed with a cross and circle in - I presume - Abramelin oil. Is there not a risk of the oil dripping into, and burning, an eye?"
No more so than any other time you put oil on your forehead. (That's one of the basic magical anointings: putting oil on the Third Eye. I would have no idea how many hundreds of times I've done that in my life.) You aren't putting so much that it drips or runs - just a dab.