Changing the cord on a Ripcord

Hi - I've got a Ripcord on my 06 Bowtech Old Glory. I've owned it since May this year and have shot probably just under 1,000 arrows through it. The string on the Ripcord is frayed to the point that it looks like it is about to snap. The fraying is right where the cord enters the housing.

2 quesitons - 1) Is this normal? I was hoping to get more shots out of it before I needed to worry about the string. 2) Does anyone know how to change the string, and if it is even possible to do without sending it back to the manufacturer?

OK - I think that was three questions, but any help would be appreciated.

Thanks, Mark