Justin,

My understanding of a Hyde soft mount is that the rubber ring goes outside the two rings and the balsa rings are never touched. In fact some rubber should be glued to either inner side of the two rings for protection.

In my commercial Hyde Soft mount for YS110, there seems a thin rubber layer between the two rings. Since this mount does not require nose-ring, the middle rubber probably provides the extra stiffness. This is just my guess.