I never bother with cinnamon on the end of a spike. These will dry up pretty quickly and don't feed anything back in to the plant so you should be fine to leave it. I can't see any harm in using it on the spike if you want to be sure though.
I would use cinnamon on cuts on the actual plant if you get any damage there.
Be very careful about using cinnamon on the roots. cinnamon is a desicant (it dries things out) and can cause roots to dry up too much and be unable to absorb water again. A small amount dabbed on cuts in the roots is OK, just be sparing with it when used on roots.
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