Just to nitpick the nitpicker: the knob's shaft needs to be longer than 15 mm, right? "3.5 mm" is the diameter, not the length of a small T(R)S jack.
Good point about the orientation when inserting. I was thinking something like hex or torx or friction fit that would allow you to insert it without thinking about the orientation. But then that causes another problem: any visual markings on the knob aren't guaranteed to be in the right position. I'm not sure if there's a good way get the best of both worlds on that.