It includes the head. It is the overall length, not the distance from under the head. I wondered if somebody would ask this.
I can go measure the thickness of the head and subtract that.
Yes, that is the true functional length, both for the depth of the hole in the driver and the thickness of the rods it must trap, and still keep loose, If I recall there is a roughly formed chamfer on the end of the pin too, for insertion into the driver.
I recall that episode where I had to make some for myself using 1mm brass tubing.