D'oh! You're right. Those offsets are from the page's top left corner! Yes, subtract the margins from the offsets.
Ok, seems to work much better
![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
I've updated the generator to fit your provided measurements. In addition I have tried to fix printing multiple pages but I'm not entirely sure that the margins are generated correctly. I have switched to setting the margins using a CSS @page rule which means that in Chrome margins now simply have to be set to "default" and in firefox this method should also work. However, the generated PDFs seem a little off and I can't do a test print at this moment. Testing and bug reports of this version are very welcome:
https://github.com/jonls/openpaperwallet/tree/update-template