Is that a MSH in that pick or is it set up like rings?
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I do use a nano carabiner as a "marlin spike" to lock the hitch, but I don't place the whoopie on the knot like in your picture, I clip it normally in the carabiner, it works perfectly well. I take care to align the carabiner properly though, and load it lengthwise and not "breadthwise" (not sure of this translated word, hope it is right).
As you said, it is great bonus to hang stuff; I like to clip my pack and food bag when it is not raining.
This discussion was about light weight toggles. Introducing biners 10 times as heavy is a bit of topic.
Back on track; In my opinion sawing carbon arrow shaft is a risk. The edges can release annoying splinters. Who is going to denie that?
My choice is between a stick and a posh piece of aluminium arrow shaft gracefully fitted with a shock cord loop.
Cheers
Tjalling