Historically England wasn't big on colonisation much before the 1600's and started slowly even then (take a look at England with a 1617 start to see what I mean). So if you want to roleplay history a colonisation and conquering the pagans spree isn't really on yet.
If you are playing to win then the first thing you need to do is decide what religion, Catholic/Protestant/Reformed, you will eventually settle on. All are possible and viable choices. Catholic is good for capturing provinces in war as they will mostly be the correct religion, especially overseas, but your colonies remain vulnerable to the ToT. Protestant is better for income from production and taxes and makes you immune to the ToT so you can colonise widely. Reformed is better for trade income but you have to wait longer for it. (Hint: if you choose Protestant or Reformed go Parliament in the English Civil War so you can avoid a forced religion change later).
The best time to go Protestant is by event in 1534. You will need to go Protestant in order to go Reformed later. If you decide on Reformed then do so as soon as the Calvin event fires.
For colonies the solution is not to complete them yet. I would establish 4 or 5 colonies in strategic or valuable locations and build them up to around level 5. Once you have adopted your final religion sending a colonist will change the religion of the colony, as long as the population is still below 1000. So you can complete the colonies with the correct religion at that point.
It also depends on whether you have overrun the British Isles. Scotland goes Reformed whilst Ireland stays Catholic. England goes into a 3 way split. Assuming you go Protestant the best time to do the conversions is when Elizabeth is on the throne (she is the best monarch you will get, only Cromwell is anything like as good) but leave Scotland as they will go to Anglo-Saxon culture after 1700 if you control the provinces and can be converted then - you can fully tolerate 2 religions but should try and eliminate Catholicism as a priority.
The north american pagans are best left until you have land 14. Develop colonies so you have jumping off point to attack from 2 directions then go in in the spring. Assault the fortresses immediately (the terrain favours infantry only armies anyway) and try and overrun them in a single summer - winter attrition in most of their provinces is killing so withdraw for a second campaigning season if you must.