Hey! I recognize that hammock! I hope you got good use of it!
The bugnet is organza, it shouldn't take much to sew closed that rip... it'll leave a "scar" but should be functional.
The body is Joann's 1.9 ripstop, so it will hold plenty of weight.. it's more an issue of length, as the body is shorter than an adult hammock... Of course I tested it at 210#. The suspension is Sewn Mule tape ring buckle suspension... Hang as high as you're willing to fall!
The design is based on the DIY HH in the DIY forum here...
Original pics here:
I made that hammock in Feb, 2011...