Please excuse the delay in responding to this post (so busy!).
Okay, here is what my base action looks like:
Knockout: land
1) Copy
2) Paste in back
3) Set Color
Fill Color – Gray: 5%
4) Set Color
Stroke color – Gray: 5%
5) Set Stroke
Weight 1.5 pt
Cap: Butt Cap
Miter Limit: 4
Join: miter join
Dashed LInes: 0
Alignment: Center
6) Attribute Setting
Fill Overprint: No
7) Attribute Setting
Stroke Overprint: No
This ends up with a copy of the piece of text that masks out the line work underneath.
The Issue: when recording actions, I can use the color palette to make changes to a piece of text and know that these changes will be picked up (for example, a 5% grayscale fill). With the pantone color, the actions palate will not record this change as a 5% PANTONE fill, but rather as a 5% grayscale fill.
This color palette was opened, btw, using Window->Swatch Libraries->Color Books->Pantone Solid Matte. I was working with Pantone Yellow M as an example, and trying to replace the “5% Gray stroke/fill” portions with a corresponding pantone color.
Does that help?