I did this mod on my bedroom fan last year. Here are some pics.
I "did" use mineral spirits to clean up the old self leveling Dicor- I was aware of the ramifications, however I kept it light and only applied it on a lint free cloth and wiped the old "goop". It works very well and I wanted to leave as much old goop in place to prevent me from cutting the EPDM trying to get it all off. The new Maxxfan OD dimensions were identical to the old fan vent so made it quite easy.
I also used new butyl tape on the underside of the new flange, and left most of the old butyl tape on from the previous vent.
As you pry up the old flange, hold down the EPDM with your other hand to prevent pulling it away from the underlying plywood sheathing.
When installing the new screws into the new Maxxfan flange, only tighten them enough to snug up the flange until the butyl tape starts to compress. Too tight and you will crack the flange, or sqeeze and thin out the butyl tape.
Be generous with the new Dicor self leveling sealant and overlap well. I used one whole tube.
PS - Micheal, here is a video installing the MaxxFan - you may already have seen it.... -->
Link to MaxxFan Install Video
Take care,
Brian