I had some excess vinyl on the side of a print job that gets protected with laminate. I apply the laminates with a machine which provides a mild amount of tension to the laminate as it is pulled off the roll. With the square labels there is minimal to no noticeable effect.
This isn't as obvious on all the labels. However in doing small cuts the vinyl curved up as the tension was stronger than the adhesive was holding to the easy release backing. This caused problems in cutting, snagging and some places did not cut through.
Tldr for intricate vinyl cuts, use the appropriate thickness of vinyl; laminating thin vinyl before cutting will end badly.