I think I Shat myself

[PxTx]

I would recommend adjusting the slack out, as I've see too many loose cables come off a pulley. I would also look closely to any cable which has come off a pulley. For any cable of X diameter, there will be a minimum turn radius- Y. The axle the pully turns on will be too small of a radius and will result in cable damage. Two most visual signs are kinks and fracture (when strands begin to break). If you've ever run your hand along a cable and it bit you, you know what I mean.

I've not dealt with a pulley failure like your's Al. I'm glad everything is okay.