I'm going to be using the green razor heads with bleeder. The taper on my shaft is approximately 3/4" -1" long, with a taper that long it doesn't allow for the bleeder blade to be installed through the slot. 
Is it SOP to cut the taper to 1/2" long in order to allow for the bleeder. Or am I missing something all to obvious to everyone but myself.

I haven't used them for many years, but I would install the bleeder first, then adjust the length of the taper to find what is optimum before going further.   

Yeah the taper tool I have is just one of those cheap pencil sharpener type that make a fixed length taper at 1" long
I installed the bleeder in a head and measured from the back of point to where the bleeder intersects and it's right at 5/8".
So I cut my taper down to 1/2" and it seated very well with no wobble, I really just want to confirm if I'm doing this correctly I guess.

You may also want to file the dents off the inside of the Ferrell  where the bleedr blade fit in this helps to make it easier the get the heads on straight while spinning and adjusting.

Thanks for that tip, will do

You're doing it right.  Rather than cut off a one-inch taper to 1/2 inch, though, better to just make the taper 1/2 or 5/8-inch to begin with.  Can do that by controlling how far you allow the shaft to go into the pencil sharpener type taper tool.  Works either way, of course.

I gave that a half hearted attempt on a broken arrow but I couldn't get a very precise length, I will continue to try that though and see if I can improve.

Bear made a slotting tool with a sharp band.  You ran it through the bleeder blade slots after you mounted the head.  This allowed you to slip the bleeder blade in.  Might find one on a big auction site.