Mat, I just joined this site today myself and was wondering about this POR stuff myself. That's a very common Z rust area, often worsened by standing water from rear window leaking. At least that's not a visible or structurally important area. So I take it that your gonna leave your car black and just cover up the lime and try to fix and prevent future rust. That would be my plan too, that green is nasty. Sounds like you work like me, with manual tools and spray paint. You should be able to scrape, grind, sand off your undercoating. Be sure to quickly repaint any exposed metal. I used to use a product that came in a spray version and a bottle version I believe called Restore that worked well in conjunction with rustoleum type paint to allow me to stop any rust. I prefer to leave just paint versus undercoating on these areas so I can monitor for future rust. Sometimes you just end up with a rust sandwich when undercoatings are used. I hate using fiberglass patching sytems but this is probably your easiest semi fix for your thru and thru rust in that area. I'd still initially repair it the same way though, get your rust stopped for a few months before resanding and and fiberglass sandwiching.