How long is that router bit?
You should be able to shorten up the depth of the cut by adjusting the bit so the bearing is close to the top of the your template.
Can't see for sure from you photo, but it looks like you are still standing proud of the template. Can you clean it up with another pass of the router?
I bet somebody who REALLY knows what they are talking about will soon jump in here with some REAL advice.
