The reason for fitting these shocks is that they have a extended length 100mm shorter then the AE86 or TT132. This is due to a 40mm shorter stroke length and 60mm shorter shock body.
So, by using these shocks instead of normal ones, you can go lower then 2" with still captive springs. I estimate a 4" drop is possible.
Now, a 4" drop would be stupid, and completely upset the handling of your car, unless you start engineering stuff like roll center adjusters and what not. But I have a Corolla KE35 (aka, Sr coupe), which has Corona TT132 struts fitted. I fitted these so I could do a Hilux 4pot calliper and Peugeot Vented Disc (10.5") bolt on brake upgrade.
Problem #1: The ride height was raised 1" when these were fitted, and I wanted a 2" drop from factory.. this calls for a 3" drop total.
Problem #2: A 3" drop would most definetely be uncaptive. My options were to use short stroke shocks and have the strut shortened (ultimate solution), or... cos I'm poor atm, to use 60mm spacers to space up the shock in the body.
FWIW: I had fitted Koni (RED) shocks, didn't last 20,000kms in 1.5years. I wouldn't buy them again.

Concerns
You have more chance of bottoming out with just a spacer.
And you will probably bottom out if you have soft springs, and go over pothole.

There is a club4ag article that explains shock travel positioning. It recommends that you cut 40mm and use a 20mm spacer, and thus you will put the shock at half way in it's travel. Even amount of bump and rebound.
But, personally I'm more worried about bump travel then extension travel, so if it was me, i'd cut 60mm. AE92 shocks aren't that short anyways, so there is plenty of extension for me. But it does depend on your ride height.

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Parts Required:

14mm Socket.
17mm socket.
19mm Socket.
Ratchet or Power bar, some sort of drive.
Pipe Wrench, Big poly grips or big Vice grips.
Spring Compressors.
4hrs time. more or less depending on proficiency, I can do both in 2hrs total.
Cut struts (60mm), or 60mm spacers, aluminium or so.

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Fitting:

1.) Undo the shock top nut in the engine bay a little so it is loose. (19mm).
2.) Undo the 3 top nuts that hold the strut top into chassis. (14mm).
3.) Undo wheel nuts a bit, jack up car, take wheels off.
4.) Undo the 2 bolts that come from the ground up through the steering arms into the base of the strut. (17mm).
5.) Undo the 2 bolts that hold on the calliper, these come from behind the calliper, one at top, one at bottom. (17mm).
6.) Tap off the tab that holds the brake line against the strut, use screwdriver and hammer.
7.) If your lucky, your struts will have a hole for the brake line to slide up without undoing the hose. If not then you should get out a hacksaw and make 2 cuts into the strut bit, so you can take the calliper off the strut. The tab will hold it back in place afterwards.

8.) Put your foot on the lower arm (control arm), and press down (stand on it), whilst grabbing onto the strut somewhere (grab bottom of backing plate and pull up, it will bend, and press against disc, but you can bend it back later.) then lift it out of the car.

9.) Use spring compressors to compress the springs.
10.) Undo the top nut all the way now, and the strut top and spring carrier should come off with springs. (19mm).
11.) You've now got to take the shocks out. Easiest way I think is to put the shock in a vice, and undo the big hex nut with a pipe wrench. A big pair of vice grips or poly grips would suffice though.

12.) If the shocks are OEM, then you will have to tip the strut upside down a bit in the vice, and let all the old oil drain into a bucket. If you have replacement sealed inserts, then just pull 'em out.

***I bought 65mm (length) spacers (38mm width, shock width of 45mm preferred, but must be >30mm)out of aluminium for $17 NZ inc GST (about $8 US). I bought 65mm because I wasn't going to take a gamble that the shocks were exactly 60mm shorter body. But due to my spacers being to long in the end, I drilled out a 5mm hole in them***

13.) Sit the spacers in the struts, then put the AE92 shocks in. Then do up the lockring with the tool you used before, if you have Konis like me, your best bet would be vice grips on the round lockring. (Koni authorised fitters have special tool... bah I say!)

14.) Now you have to put it all back together. The springs will need to be compressed considerably more then they were. About 2".

15.) Fit spring carrier and strut top. Konis had 22mm shock nut, which was too big for me to do up, the old 19mm nut fitted though, so I used that. Do up shock nut as much as you can.

15.) Line up the steering arms so it would be easy to sit strut on.
16.) Line up the studs in the strut so that it would be easy to push up through the chassis.
17.) Lift the strut up into the wheel well and put the strut top studs through the chassis, do up nuts a bit. I hold strut with foot at bottom and left arm and put on washers and nuts with right hand.

18.) Put foot on lower arm (control arm) and push down hard on it, then slide the strut onto the steering arm over the balljoint. With 1 coil cut on my Corona TT132 springs, there was a bit of gap between the steering arm and strut, not to worry, just put the bottom bolts through and it will compress the spring and pull it together. :)

19.) Do up strut bolts. (17mm).
20.) Put calliper back on, making sure to put hose through hole in strut, and bend the backing plate back to proper place. (17mm).

21.) Put the tab back onto the brake line where it goes into strut, tap it with hammer turned 90deg to get it sitting tight.
22.) Put the wheels on and jack it back down.
23.) Sit on the guard whilst you do up the strut nuts (14mm) and shock nut (19mm).

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And thats it!!..... short strokes for your Corona or AE86.

Enjoy, Karl