It ok to cut the topknot, but you might want to try this first. You create the topknot, and then an inch above that put in another band, and bend over to make second band meet first and put a third band around them both. This enables the long part of topknot to hang away from the face, more like a show dog. Complete instructions are on this website, a little more than half way down.
http://www.shooterdog.com/alexfaq3.htm