Acrylester makes beautiful pens, but it definitely takes patience. You can really get a glass smooth polish on it. Too bad it's such a pain to work with. I always joke that it will crack if you look at it wrong. Even a little hairline crack sticks out like a sort thumb on the finished pen, to my eye anyway.
I guess you already figured out that drilling is challenging. I just drilled one today, 400-500 RPMs, very short pecks with the bit, completely pulling it out of the blank and hitting it with water in a spray bottle to keep it cool. The blank was cut longer than needed and I did not drill all the way through, just deep enough for the tube to fit, then cut the extra length off on the table saw. I should mention that I got a good head start with a centering bit before switching to a regular jobber bit to avoid any wobble. Also, make sure your drill bit is very sharp.
After drilling, make sure the tube slides freely through the hole before you glue it up. A round file helps if it's a little tight. Use a glue that has a little elasticity to it (I like Gorilla clear). You're going to need a little give when you press the parts in.
For the actual turning, as has been said, use sharp tools and light cuts. Patience will pay off. The flying chips can be intimidating, but I suppose it's a good warning and reminder of how brittle this stuff is. One thing you can do is sand the edges round before turning. it helps a little. Once you have it rounded off, it does get easier to work with, but you still need to use light pressure cutting it. Did I mention patience?
Then there is the pressing. After all that work, with such a beautiful shine, you cant' wait to see the finished pen. Not so fast, though. This is why you want to make sure the tube wasn't too tight of a fit after drilling, and that there is a little give in the glue. Make sure the tube is perfectly clean. Even a tiny little glue or paint spot in there will cause it to expand too much and... crack! Also, make sure the pieces are properly aligned as you press or... you guessed it... crack.
Don't let this scare you away from Acrylester, or other polyester resins like "mica pearl". Trust me, I've made all of these mistakes, but the successes are worth the effort (and patience).