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.