RE: Is this tip OK to shoot?
For crying out loud, drill a couple of tiny holes in the tip horizontal to the lost section, tape a piece of paper around the tip, pack with reinforced epoxy or fiberglass and file sand to desired look.
I don't know personally, but have heard of guys being injured when bows broke and I absolutely believe it. I had a solid fiberglass bow break just after full draw and it knocked me to the ground like a rag doll being thrown down! Could easily have ripped a muscle or worse (no see able flaws in bow, Ben Pearson)), young and dam lucky!
To answer your question, you would be nuts to tempt fate!