I am running into the same issue, except that mine is from everyday use and wear and tear. The rips are not huge, but I've only had my TRX for about 3-4 months now. Overall, the product is great but I think the tearing is occuring because of putting my feet in and out of the straps. I am also concerned with the handles long term durability and wondering if, in the future, there is a better option for Fitness Anywhere to consider than foam.
Brian