Here is what I'd do if I was in your shoes (and again, I don't have any bodyshop experience).
Start with a 3000 grit sand paper and wetsand the area where your touch up paint "spilled over". Use your painters tape to mask off the area so you limit the area you're wetsanding. 3000 grit wetsand is not very aggressive but will pull up the touch up paint which is softer than your clear coat. Start there, if it doesn't do much you can try wetsanding with 2000 grit. I think I got a combo pack of various grits at Advanced Auto for $6.
When I applied my touch up paint I was using the Dr. ColorChip kit which has a blog eliminator that you can use to remove excess paint around an area you're filling. It doesn't work well on large areas though and starts removing the area you filled as well. That's when I went to a qtip and filled that way. If you look close in my results pics you can see some slight blobs from my job.
Can you post some pics of where you're at now?
2008 E92 AW 6MT ///eibach's///ARC-8///Muffler Delete