Maybe I’m wrong about this but I think it might be better not to use insulation at all. My thinking is that radiative heating hits the belly and absorbs or bounces off before affecting the back.With convection heating, hot air has a chance to go around and scorch the back. This is why I also like using the heat gun close up where you get more radiation to less hot air. If im thinking about this correctly, to get a deeper heat treat before the back starts scorching, air temp should be minimized while as much of the heat as possible comes from direct radiation and not hot air.
in cooking terms I think we want to broil the bow as opposed to baking it, for similar reasons you broil or grill a steak rather than baking it. This is why a salamander broiler in restaurants is open so that it doesn’t heat up and act like an oven. Insulation would make the rig a better oven but worse of a broiler.
On a separate note, if a good way to thermally insulate the back from the belly was found (badgers heat tape post) then convection would work without the issue of scorching the back.