I'm skeptical. Hemp doesn't stretch to that degree and it should be locked in the resin matrix. If the whole system is done properly it shouldn't be possible to apply enough tensile or compressive strength to the lugs to get that type of failure.
Nothing wrong with giving up and taking the easier route if it seems safer though.
A fibre resin matrix has the potential to reach into the 30000 psi range depending on resin choice.
That foam block technique with the matrix over the top looks downright scary.