The hole on the back you're referring to just goes into the battery compartment - there is no sensor in there.
I've disassembled one of mine for repair twice (our 3 year old broke the screen off not once but twice, first repair attempt successful, second not!) and as far as I know the temperature sensor is just one of the chips on the main PCB, which is buried inside behind the screen. (The ribbon cable for the screen passes through a slot directly to the PCB)
So as far as I know there is no "best" way to orient an HR92 for temperature sensing as it's just measuring the internal temperature of the device, so indirectly the case temperature. Some of mine face directly out from the wall for better visibility and some in high risk areas like the hallway face along the wall away from the radiator to minimise the chance of being knocked with the screen extended.
One thing you can do to improve measurement accuracy is to ensure you always install them on the return side of the radiator - when the radiator is in a partial flow state this end will be significantly colder, especially the pipe work and valve body that the HR92 sits on.
Accuracy is also greatly improved if your radiator is a convector vs an old fashioned non-convecting panel, and also if you have a side plate which are common on modern radiators - the side plate acts as a good heat shield between the radiator and HR92.
At the end of the day though if you want true accuracy, use a remote sensor. All but three of my zones now use remote sensors and I wouldn't go back to using the HR92 as sensor in any of those zones. No amount of trickery will make up for the inherent inaccuracies of trying to measure room temperature near the floor beside a hot radiator.