The mast needs the support of the deck opening to be structurally supported. A little play is not a problem (1/4" or so), but much more (that "Frisbee-sized" hole) than that, and you now have a potential problem at the hinge. Without the side-to-side and fore and aft restraint of the deck hole (proper tem: "Mast Partner") the mast will move around too much at the joint created by the hinge, this can ultimately cause the screws or rivets that secure the hinge to the mast extrusion to work and ultimately fail. Again, the small amount of space around that Javelin mast should not be a problem, but if the hole were Frisbee size, the mast joint there could move side to side or fore-aft by half that diameter and eventually cause failure of the mast at that point and/or rip the lower mast-step off the support beam it screws/bolts to.
Compression of the mast, due to resolution of forces (wind pressure on sails, offset by pull of the shrouds, wants to push the mast down through the deck. Since the mast is prevented from moving down by the lower step, the point where the hinge is will try to release that stress in another direction, if the mast is not restrained at the deck (where hinge point is), it may move sideways (this effectively "shortens" the mast, since as that point moves to one side he top and bottom of the mast get slightly closer together) as a reaction to the downward push of the mast due to restraint from the shrouds.
Sorry, I know what I'm trying to say..... but, realize that it is coming from someone with a lifetime of sailing and a mechanical engineering background. Just thing of standing a pole up like a mast, then push down on the top, it stays pretty well as long as you don't introduce any sideways force (like tilting the pole while still pushing perpendicular to the ground). Now, stand that pole on a shorter pole (or tall block or brick), push down on it as before..... you will find that you are OK as long as that lower pole or brick stays vertical, but now tilt the top pole a little bit.... and the lower pole/brick will most likely kick out to one side and fall over.
The tall pole is the mast, the short pole is the section of mast below the hinge.