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Manufacturers tend to say align the bung with the stem so it provides an internal stiffness to resist against the steerer tube. Having said that, I can't see how stresses generated by normal stem clamping can come close to crushing a steerer tube so I would say it's fine. But for longer time usage and to be on the safe said, worth getting a bung you can position inside the stem, or a longer one.
Hovis
Scrabble
It's a Columbus bung on their minimal fork. I think I cant move it down as top sits flush on the top of steerer.