I'm working on it.  i think Swype license is picky if you switch roms and kernals.  Also data should be on as it checks with their server time to time.   All i did was switch to a new kernal and my update.zips would not work.   This testing is done on my CM7 build and Drew's gingerkernal v1.  
 
I ended up uninstalling the Swype installer, and redownloading it.  Sign in and download the latest Swype.  And did the Metamorph in step 3 fine.  And got a working themed swype.
 
Now onto zipthemer.  Seems to work fine just like the zipthemer tutorial,  but this was after doing the Metamorph way first.   Now i'll do a fresh Swype install and do a zipthemer.   So if you themed first by Metamorph, then did a ziptheme, you should be fine.  I'll update the thread till i figure out the fresh install. 
 
Ok, so fresh Swype install,  do the zipthemer, flash in recovery, reboot, and no swype... so I'll work from here.  
 
I'll go back to a nandroid of Reborn when i get home later and see what the trouble is.