Go slow, and I use ice/water to cool as you cut. the clamping of a board on the back is also a good idea, but I have not had a problem with hole saws but I have had issues when drilling acrylic.
Let the weight of the drill do the work and SLOWLY rotate the drill as you go. It will reduce heat by limiting the amount of surface contact btwn the hole saw and the acrylic.
moogoo,
diddo on what everyone else said, and I actually used a torch to form fit and thread my bulk head into the acrylic sump...if you use this approach be very careful, you only need to warm it up. If it gets too much heat, it will actually catch fire. But it did work pretty well for me...no leaks was the most important thing for me and of course keeping the sump from breaking....good luck :lol: