(...)
I was thinking 'interleaved', like:
The resulting donor sheets could be shredded by a conventional crosscut. Two separate bins would allow you to dispose of the holes this week and the remainder of the sheet next week. :)
I can't envision how punching from both sides would work, unless one had solid punches that mated with hollow punches....
Perhaps an outdoor approach using parallel plasma beams? That way you could extract the resulting gas and use it to power the shredder!
--Winston