I'd shoot hennessy CS an email and attach the photos of the tear. Be sure to reference your order number (perhaps also attach a copy of the receipt) so that they can verify that it is a recent purchase. And ask about a replacement.
I'm no expert, but it looks as if the material itself gave way, which should not happen since you are under the weight limit and often times the commercial hammock companies set the "weight limit" lower than absolutely necessary to give themselves padding from potential failure and therefore lawsuit.
It could be that they manufacturing plant used the wrong material on the hammock, which could theoretically cause such a failure to occur.