I think that is for HO and N gauge. Not sure Lionel Fastrack will fit on the bed, unless they make an O gauge version and I missed it. I used a Dremel tool on mine. You can probably uses a SawMax for a cleaner, straighter cut. Watch for the plastic ribs on the underside of the roadbed. Cutting along one of those will give you one piece that works nice and another that will need support underneath. I join my rails with tubular track pins. Also, if you are planning to join the cut piece to another uncut piece of Fastrack, the rails are offset, so a straight cut of the rail won't work.
George