I think the newer rick rack doesn't shrink. However, I would definitely second the recommendation to test a piece. Measure out 12", wash and dry it, then measure it again to see if it is the same length.
What I would do is sew down the middle of the rick rack with a straight stitch on the machine, then hand tack down the tips of the rick rack. There's no law against hand sewing when it will help the quilt! If you do this while the quilt top is still just a top, you won't have to worry about what the underside of your tacking looks like. You could still do the hand tacking after the quilt is made, but then you have to pay some attention to keeping your thread buried in the batting between tacks.