I replaced my worn out shrink tube with clear vinyl tubing last year and it works GREAT! The chain holds its shape much better than it did with the shrink tube which makes climbing easier. It doesn't try to bend and catch on bark.
Make sure to use the 5/8" ID x 3/4" OD tube. The 5/8x7/8 is too thick and it won't fit into the ends of the stand. I tied a long piece of stout wire to one end of the chain, ran the wire through the tubing and tied it off to my work bench. Then I could work the tubing on over the chain. I also had a kettle of very hot water there and kept running the tubing through it to make it easier. You will have to remove the black plastic inserts from the stand where the chain goes in, though. An added benefit was that the stand is quieter when packing and climbing because the vinyl tubing takes up more room inside the stands square tubing and doesn't rattle around at all.
2013 Bowtech Experience - 28.5", 60#
Beman ICS Hunter 400's, Trophy Ridge "Revolution"