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No help on frayed bungee....
Oh well....will have to figure out myself.
Not much you can do about it... make sure it's not rubbing anywhere, or get engine oil on it (ask me how I know... :( ) besides that, just change it. The latest Zen video recommends changing them every year!!! I'm going to the steel job next year because I had a hell of time changing mine...
When I noted my 750's bungee was frayed, I thought along the same lines as you: "I'll change it later." However, it wasn't any time at all before it broke! Turned out not to be a big deal since the stop-ring welded on the nose gear tube prevented a prop-strike.
What I did discover was that the fraying was much worse in areas that I couldn't see such as where the bungee wraps over the hook on the back of the nose gear tube.
My advice would be to change it sooner rather than later. If the 701's bungee replacement is anything like the 750's, it's really not that difficult.
That will give ma a chance to install a 750 bungee (heavy Continental engine)
My 701 bungee looks like the cotton outer has fallen away (rotted?) along part of its length however the rubber strands look to be intact. Its been like this for 5 yrs the plane was built in 2004.
there is no sag and the strut spends most of the time fully extended - my Jabiru 2200 engine is lighter than the bungee was meant for
If I see signs of strands breaking I'll change it. Climate here includes humidity and condensation which I think has got the covering weave. a new one would probably do the same.
Unfortunately I have had plenty of both (oil & heat) during the first 10 hours.