Introduction / Wah Inductor help

[hoerni]

Hello all, this is my first post on the forum.  This place was recommended to me by a HCFX forum member.  I'm an EE who likes to repair/mod/invent effects in his spare time.

Right now, I'm having trouble with a Dunlop "transition" Crybaby.  (i.e. it's a Dunlop case, but the circuit board looks like a left over from the Thomas Organ Co).   After debugging it, I've determined that the inductor is an open circuit.  

Being the optimist, I'd like to see if I can repair it.  The red/brown potting materal (this is the "03" stack of dimes inductor) looks cracked near one of the pins.  I'm hoping that the wire broke there and I can remove some of the material to re-attach it.

Has anyone tried to remove this material?  Is there anything that will dissolve it, or am I better off chipping it carefully?

I originally bought this wah for a "rehousing" project.  I have a DD-2 without a case that I'd like to put in a pedal with the delay time controlled by the foot pedal.   After I found out it was a "transition" wah, I though it might be worth saving.  But I doubt it's worth it if the inductor is bad.  That's the part that holds the "mojo", right?  

Thanks in Advance