Tim's description is a good one and certainly covers the application of the tape, very well.
I would add a couple of things, not to the application but to the preparation. When building the airplane it is probably best to forego the previous tendency to get the control surfaces and the wing and stab surfaces extremely close together. It actually aids the application and function of the tape, and reduces friction better to have a slight (maybe a 64th inch or so) gap between the mating surfaces. The tape adds almost no friction and performs the sealing function very well
Also remember that a very free control system is absolutely necessary to precise control function and stability when trying to do the tricks we perform.
I would also add that I believe this to be as important in building a stunt plane as any other function performed.
If the hinge lines are "Leaky" it will never be possible to truly trim a stunt plane!
Randy Cuberly