kasmira, who i believe is also a fellow fan of this site, had a wonderful blog about how to deal with this very thing!
http://whatiwore2day.blogspot......x-bow.html
i think its rather belt specific - certainly won't work with all belts. but i did try this with a green braided belt that has a normal belt buckle, and it seemed to work. i just poked the excess belt with the little bar thing a second time when i doubled it back. here's a picture of it, although it may not be the best to see the actual detail of the belt.
http://i143.photobucket.com/al.....020196.jpg