Did you buy your TRX brand new? That just seems rather odd the foam is tearing, particularly how short of a time you have owned it.
I have been hearing this similar scenario on the forums recently within 3 - 4 months of ownership. I just don't understand how this is happening in general. I mean sure maybe after some years of wear I can see some tearing, but just after a few months or 1 month seems odd.
My speculation why this is happening, is people are inserting, removing or rotating the feet inside the foot cradels too fast and/or hard, and it pulls on the foam, and it slowly starts to tear. It's hard to say though.
From my understanding, you can put a certain kind of tape around it to prevent it from tearing. Just poke around the forums, and you'll find the post fairly quickly.
Either way, thats a bummer your handles are getting torn. Hope this helps. 