I think you can go 20% smaller in the machine. It will only do so far up or down. This is because the machine cannot alter the amount of stitches, so they get pushed closer together. The size does not seem to be too large for machine sizing down to 5x7.
I have reduced to 75% (down 25%) with good results but my embird does reconfigure. As Sue says a lot depends on the density of the design. You can try it but stitch a sample to see that it is going to look ok before stitching on your article. Sue has already told you how to add a link/Lillian
You can reduce in size down to 80% of the original. The success depends on the density of the design. (Yours sounds fairly light.)
To add a link, first copy the URL you want to link to from your address bar and then paste it into the box. Note that it begins with http:// so be careful not to have that twice! Finally, click the Add Link button on the right.