As interesting timing would have it, I had ordered a new belt to have as a spare just before we left on this trip. The new belt was waiting for me when I got back. Please note that the new belt is packed flat - it is not coiled into 3 loops as you suggest.

The Gates site FAQ says this about coiling:

For general storage, Gates does not recommend coiling. It is best to leave the belt in its original packaging until ready to use. However, if you want to carry a spare belt with you, proper coiling is an option. Care should be taken not to damage the belt, please watch this .