I expect that if the rings are in the alpha>0 configuration the dumbell would need to lie on the z axis for the lowest energy, seeing as this would put the masses of the dumbell closest to rings, if alpha < 0 I expect that te dumbell has to be oriented in the xy plane so that the masses of the dumbell point more toward the ring masses. I do not think that the orientation matters when alpha = 0 because the quadrupole moment vanishes in this case.