Janus
I have done what you are describing. When you cut the chain, you pretty much cut the little connector in half. If you hold the pair by one of the beads and shake it a bit, the "stem" will poke back out of the hole. You can cut it shorter if your using a small pair of side cutters or end nips. It's easier to get the single bead on the hook without all of the extra material inside the bead.
Because the chain is hollow, you can get it on a smaller hook than a drilled bead, and it's lighter.

Kirk