Pad Eyes should be mounted differently. DO NOT mark both points of the pad eye at once and then drill both holes. Doing so allows for too much error in measurement. Measure and mark out the mount hole of ONLY ONE SIDE of the pad mounts. Secure the one side. Now you can swing the pad mount around as much as you want. Once you're happy with where the other side is at use a Sharpie, nail or other tool to mark the other hole THRU the other eye and you can be certain the hole is perfectly lined up.
I was waiting for that also. It says in the subtitles at 5:23 to pass the bungie cord back thru the first pad eye, pull it taut and tie off with another overhand knot.