The original Beman ICS (pre C2 composite process) did that all the time and I've had one CX 3DS and one Goldtip XT do that as well. The CX did that out the insert end..point/insert and all the "guts" spiraled right out as I pulled it out of the target.

I would agree with the adhesion layer theory. On that hard impact it just totally separates...it's kinda neat looking Kinda scary too. I would be willing to bet that is why Beman/Easton went w/ the composite construction as opposed to straight carbon wraps like Goldtip & CX...have some "filler" to help with adhesion...(and add some weight too)