We did this to a friends 1994. The recipe which I have seen proven time and time again is cut 1.5 coils off the front and 1 off the back. You have to cut from the bottom, because the top of the spring tapers off to be perfectly flush. The bottom just keeps coiling and sits inside a rubber isolator to make it flush on the bottom.
For the rear, you disconnect you basically disconnect your shock, sway bar end link and either the single top spindle bolt or two bottoms. Then you can seperate the upper control arm from the lower. Just stand on the lower control arm to flex it downward as much as possible and the spring can be wiggled out. use a cutoff wheel and angle grinder and 15 seconds later the coil is cut and you can pop it back in.
Fronts, a little messier. You have to yank the entire shock which isn't so bad in and of itself, but we rented spring compressors and man you really have to compress that spring in order to remove the retaining cap. I really did not enjoy this part at all since there is so much tension, but at this point you could just take your shocks somewhere to have them removed.
Turned out great.
BTW, ^ 94 5-speed for sale!!!