Will, you are still thinking of a mast. This is a crane problems. The connection from the load up to the spreader bar and from the spreader bar up the the hook are two different cables, each connected to the spreader bar with a shackle. The two cables connect from the crane hook down to each end of the spreader bar. Full stop, End of story.My thoughts are, No. This is a simple redirection. If the spreader put more tension on the cable above, it would do so below, as well. The tension above would be greater than at the bottom only because of the weight of the cable.
If the angle were 90 deg. You're suggesting the force above the spreader would be nearly infinite. Torque, may come into play, but that has more to do with the angle of the spreader, as a lever arm, to the direction of force.
-Will (Dragonfly)
The load is applied to the bottom of the spreader bar with separate shackles. The connection of the load to the spreader bar is vertical and equal to 1/2 of the total to each end of bar.
The cable will be greater than 1/2 load due to the angle.