Interesting... Not sure I understand the overhang, if it's just flair, I guess I'd file it off. I'll be interested to see if it really goes away in time.
From what I understand. the true angle of the hoof that the horse WANTS to grow at can be seen at the top 1/3 of the hoof below the coronet band. Any difference in angle below that is flare. When you get the flare grown out, you should have a straight line from the coronet band to the edge of the hoof. If you look at the side view of Bob's foot, you can see the difference in angle between the hoof at the coronet and the rest of the hoof. If you were to draw a straight line down from the coronet to the toe of the shoe, like this...

That's how his hoof should end up when all this toe flare gets grown off. You don't want to file it off because you'd end up with a hoof wall at the toe that was too thin to protect the lamina. That's my layman's understanding anyways.