Looks like the bolt is too long or the hole too shallow and the bolt is pressuring the lamination apart. I would definately put an extra washer under the bezel string and check it out under pressure. I take it that is a top mount limb and that is why I say bolt. Compression alone on a top mount limb would very rarely cause this.
God bless and good luck, You could drill deep enough to catch that lamination from the flat side of the riser toward the end and countersink a stainless wood screw with epoxy for a fix. God bless, Steve