>Trying to make a running/dynamic sign board, flashing in sequence.
Is this a poster/sticker where different parts light up at different times?
>Can I use sticker cutting machine to cut EL sheet ?
I am not familiar with sticker cutting machines. Mechanically an EL panel is just a sheet of plastic with some conducters in it. The EL panels I have seen have two leads going to them for the electrical supply. I understand that the panel as a whole is acting as a capacitor. When you cut your parts you would need to cut them so as to not break the electrical circuit.
I have no panels here to check, but seem to recall that if I hold one up to the light one lead goes around the outside edge and one goes into the middle. I also don't know if you risk causing a short if you make a ragged cut.
>Got difficulty to cut the sheet properly. Any idea
Are you doing one or two, or hundreds? For one or two I expect an exacto knife or scissors would do. You could also consider putting down a layer of uncut panels and putting cut out masks of any opaque material over them. The material does not have to be thick to be opaque. The whole panel would light up, but you would only see the shapes in the openings. You would then light the panels in sequence to get your running effect.
These people:
http://www.lightpanel.com/
make EL exit signs, although the panel is probably heavier than what you have in mind. I have spoken to them on the phone and found them helpful with EL questions.
If you are making large numbers of signs you might be able to get panels that either come precut or that have the interal circuit arranged so you can cut a particular shap without harm.