But who or what is this little hole to dictate how/where we place/attach our bails?, I ask! What if I pretend that donut hole doesn't exist and treat the donut as I would a cabochon I want to transform into a pendant: bezel it with beads and then work the bail off of the bezel.
My husband declared he liked the reverse better, however, in which case the bail is visible.
For this Artisan Clay smoked donut, I let the bail take on a stronger design role and just varied the beads used for the inner rows on each side to make the pendant reversible.
Whether or not the donut hole is a "functional" element in your design is entirely up to you, the designer.
Be well and get going!