IC Failure

Neal, do as Jea48 suggests. I would add to turn the multimeter to measure Ohms, the symbol shaped like a horseshoe to measure continuity. Any setting in the ohm range will suffice. Make sure that your leads are plugged into the multimeter correctly to measure ohms (red/black and plugged into ohm/volt not amp). Continuity = close to zero. If there is a break, your multimeter will probably read 1 or OL.

I've had a solder joint break on an inexpensive pair of Monster interconnects years ago that caused an interconnect to "go bad". Since it was cheap I just soldered it myself. If the cable is expensive, I'd send it back to the maufacturer for repair.

If it's a failure in the expencive cable than why they charge so much for home-brew stuff? I'd simply request a full refund and not penny less.
I've compared the termination quality of Siltech interconnect to Mogamy and Mogamy wins 'by unanimous decision' with its built quality: $60/m Mogamy vs. $500/m Siltech. Knowing that termination quality may cary large part in performance, at least 65% of audiophile grade cables are built very poor.
The best built quality among the audiophile grade cables I think is VanDenHul as well as the money spent for performance. VanDenHul also provides a professional cable charts and sufficient per-unit parameters to figure out the best performer for your system.

There is a lesson here.