Yep, that will end your ride. Did you send it back to Silca? Though if that happened to me, I would not want it replaced; would just want my money back.

How many times had you used it when this happened? Coincidentally, I had to use mine this past weekend in the middle of a race, and was rather careful with that lever. Seems weird that they would under-build that lever when the rest of the pump is rather stout.