Hi Dave,
The length of loop and type of knot are not controlled by the rules.
The spec is;
600mm of 5mm dyneema, a 28mm M8 curved washer and a diamond knot.

The new standard from Selden is a
Diamond knot inside the mast behind the bent washer. This knot reduces any slippage.
Be sure to pull the knot as tight as you can (use pliers if necessary) and leave long tails behind (e.g. 100mm) to be safe.

The shorter the loop the better so you have maximum range in the kicker/vang system. Just enough to do a Cow Hitch (otherwise known as a Larks Foot) over the round end of the shackle is perfect. A 60mm long loop after pulling the knot tight (measured double and pulled straight) is about the minimum you need.
Don't tie the Cow Hitch over the pin of the shackle as the dyneema can get caught in the screw thread and deform.
The benefit of the cow hitch is reducing the load on the dyneema and never losing your shackle. If you have more than 1 rig it is then nice to have a shackle attached to each rig for simplicity.

If you are unable to tie a Diamond knot (see video link) then the original double overhand knot with both tails tucked back in between the knot and the washer would seem to half any initial slippage, although not quite as effective as a Diamond knot.
Always remember to use the bent washer to spread the load on the inside wall of the mast.