I think an adjustable pin spanner would work, but you'd need to find one that fit the right size range. It's probably best to buy one at a local store where you can take the stock wrench for comparison.
I got lucky, in that I had a spanner for the shocks on a different bike that happened to work. It's not an exact fit, but it's just close enough. And I agree, the stock piece is just that, a piece...
The downside of going with adjustable pin spanner is that it appears that they cost at least $30. Kind of expensive. If you know someone with a welder, it might be possible to put a dab on the hook end of the stock wrench to keep it from slipping off the shock. It might also help to cut a little V groove that will allow it to engage with the shock's adjustment collar without slipping.
I had the same problem with the "Busted Knuckles" factory POS. I did a little checking and found the body of the shock is 2.5" and the spanner is 3". Needless to say that's NOT going to work real well. I found a 2.5" flat spanner at Granger, M.S.I. and other places for anywhere from $15.00 to $45.00. HOWEVER being cheap and having to be at work next week on shut down I drew up what I wanted in Pro-E and made a CNC program to cut one on the laser at work, 8g SS should work nicely.
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