PA,
If it gives you any more confidence in your set-up at all then I say "go for it."
I have seen it done both ways but I would try heating the insert glue and turning it.
I don't know what the rubber band would do on impact or it may have no bearing.
I think some broadheads come with o-ring but I can't remember which ones(Thunderhead?)
For what its worth I have shot lined up and out of line and I usualy just stop where my broadhead spins true reguardless of fletching