I got the same thing..but have mine hooked totally upside down..I have the coil on the down side of the eye..wrapping around the shank of the hook..this way it holds Mr. Horny..I had it like your picture at first..and I didn't like it..because it extended the frog in front of the hook's eye..making my hook point nearly impossilbe to hook into rubber..
My new way holds Horny snuggly and allow the normal place fo rmy 4/0 hook to come up through

If need be I can make a video { -:let me know..