Until players are in the money, the bounties are not active, so during this phase of the tournament you just play like a normal MTT. This means, that unlike other bounty formats, it can be ok to late register, because nothing has been taken out of the price pool yet. Since the regular prices are only half the total price pool, the value of min-cashing is smaller than in a normal MTT, so when the bubble get near, you should be less focused on limping into the money and more focused on building a big stack.
When the bounties become available, you adjust like in any other bounty event, except that its the average value of bounties, you convert into chips, and not the actual bounty, since this is unknown. And since some of the regular price money (around 30%) has now been distributed, the bounties are worth a lot especially in the early phase of the in-the-money play. Since the bounties are now around 60% of the money still left to fight for, a bounty is worth 60% of the average stack size as opposed to 25% at the beginning of a traditional PKO.
So you need to go bounty hunting quite aggressively during this phase of the tournament. As players are knocked out, the average stack size will grow, and there will be less bounty money to contend for, so as the tournament progresses, bounty hunting becomes less important, and trying to make the top prices becomes more important. Basically as in a traditional KO, where the bounties dont grow during the tournament.