I have had one of those rings break apart and one of the swivel end open up as well. However, this is recently but on a 2007 bar with many hours of use. Inspecting the swivel opening, I suspect sessions with some sand between the ring and swivel eye slowly grinding away at the metal. In my case it took many years, but at a location with more sand it could happen faster.
I have now added some small SS ‘U’ shakles to my repair kit which got my bar back on the water. I was able to get it through the webbing and into the upper ring bypassing the swivel. I thought this might end up causing an increased twist issue, but it turned out to not be the case. I do tend to keep my rotations relatively equal in both directions. The small decrease in center line length has not caused any problems either.