I use mine as a go between the safety vest and the rope and pussic knot.
If in a climber i wrap my normal safety rope around the tree and fasten to that, advancing as I climb. That way you never have to adjust the length of strap to go around the tree.
In the pic I posted you can see it is fastened to a branch, that keeps you away from the tree and any climbing sticks or steps.
As far as the strap hanging down, I keep the strap rolled up and in my safety systems vest pocket. That way it is not a scent wick or fluttering in the breeze, but the main reason is so I don't have to roll the strap back up when done hunting. In the event of a fall the strap would likely fall from the vest pocket and unroll itself, if not , all is still ok cause the slight tention would stop your fall.
If the descender is set right you can stop the descent by grabbing the strap. I've done it pinching the strap between my thumb and forefingee !
This little device is a well engineered life saver.
About 15 years ago, a friend's strap broke on his lock on. It pitched him forward and out of the stand. His safety strap and belt pulled him back into the now collapsed stand and held his upper torso against edge of it.
He instantly reached for his knife so he could cut the strap, he was in so much pain. So he got banged up from the jolt and had to cut loose and fall to the ground anyway.