I would definitely send them the bag (before you put on the conditioner of another manufacturer!). You have nothing to lose. It's not like a company like Shining Monkey is going to steal your bag or anything.
Why don't you just give them a chance to make it right? It seems like this way you are sort of giving up and trying a 1000x different things that may damage your poor bag further. Just send it insured, take pix and keep a copy of the receipt of the bag and the can of spray.... Besides you have this thread on a public forum as proof.
Katherine