Good Morning, Jeff,
The "German" reel looks like a Kinderman; if you check the clamp carefully, you'll notice an embossed "K" in a circle with "Made in Germany" below it. My other Kinderman 120 reels (older ones, I think) work differently. They have a spring loaded puncturing pin which is raised as the film is inserted and then released to punch directly through the film. That design works like a charm, and I can't figure out why it was ever changed. With the one you have, it helps to use a paper punch to put a hole through the film (centered across the width, of course) instead of trying to press the spike through it. Doing that sometimes also punches a finger!
Konical