I'd say throw it away and put an elkmaster on instead.
I hate those Blue Diamonds with a passion. It seems to me like everyone who uses those tips plays on bar tables with the big and heavy cue balls and they hit every shot like its a break. If thats not bad enough they leave the cue in their cars and after it rains the tips swell up like a sponge and mushroom like crazy. Despite this the people who have them can't stop talking about how great they are even though they can't run 3 balls.
Sorry for the rant. I just can't stand those tips.