Yeah, that's the weak spot. Having the grain run the way it is in the accent strip is allowing it to fail. If you think of wood grain like corrugated carboard - if you try to bend it perpendicular to the ribs, it's tough to do (that's the way that broketooth was saying to run the grain), but if you try to bend it parallel to the ribs, it's easier to do - that's the way the grain is running in your strip.
I'm really bad at explaining things, so bear with me on this. If the bolt is at the base of the limb and the bow is drawn, there is a pivot, or hinge point at the end of the riser that's opposite the bolt. This force will act on a arc coming from the bolt, down through the limb, with the focus of the force on the edge of the riser. That force from the draw is what caused the split. The force found the weak spot and did it's thing.
It's a beautiful riser though. If you have a way of re-creating it with the grain all running the same way, it'll be a sure thing!