Unique torque tube issue. Please help!!





In regards to your scenario there are many other factors that have to be accounted for in order to predict what would happen to what. Just a few of the variables, shock load from clutch engagement and tire stick slip. Believe it or not, the biggest single factor is clutch shock load. This shock load is the reason why slave cylinders come with a orifice to reduce the shock load peak.
with Peter. The center ring is there for over-rev protection of the propshaft to torque tube. If you haven't noted any issues I would be tempped to put it back together as is. I don't know of any way to replace the center ring without effecting other things. 
Update: From the manual, The propeller shaft tube has an overspeed limiter, snubber, that prevents permanent propeller shaft damage as a result of a downshift above recommended speeds.
Measure the propeller shaft runout.
8.1. Mount the propeller shaft in wooden V-blocks or between centers on a fixture.
8.2. Check the runout of the propeller shaft in multiple locations, including the barrel ends, using the J 7872 .
8.3. If propeller shaft runout exceeds 0.3 mm (0.118 in), the propeller shaft is bent and should be replaced.
Inspect the snubber - manual transmission - for wear or a flat spot on the outer edge.
Check the runout of the snubber.
If the runout of the outer edge of the snubber exceeds 2 mm (0.79 in), replace the propeller shaft.
The snubber ring as you all are calling it (plastic ring in the middle) is warn down on one side of the plastic ring, similar to the OP but mine is warn less. After gettgin everything out and taken apart, here is what it looks like:
My C5 is only used for racing, specifically autocross and track cross. The car started to exibit horrible noises after a 2 day track cross event were I for sure over reved the car multiple times on very very aggressive up and down shifts between 2nd and 3rd over and over again. (I killed it on times thou, so it was worth it)
My trans builder stated I could remove the snubber by gringing the palstic away to be flush with the alumninum tube. I have yet to do this, but most likely will do it today so i guess i will let you know how it goes.







