Go ahead and launch this CloudFormation stack. If you're happy with the default values for the parameters, you don't need to provide them with the CLI command:

aws cloudformation create-stack 
  --stack-name backup-s3-glacier-1 
  --template-body file://03-backing-up-data-for-compliance.yaml

Once the stack has been created, you'll be all set to start copying backups to the S3 bucket and start worrying less about your backups' life cycle and management. If you decide that the expiry or transition times need to change after you've created the bucket, you can do this by simply updating the parameters for the stack.