I tried this a couple of times and had mixed results by using a heat gun.I just clamped it with some vise-grips, fanned it over the heat gun then molded it with a roll of masking tape or something round. first one came out great. the second one got too hot and bubbled.
I have no idea about the circuit board and if you try the microwave I hope that you have a spare and not use tho one in the kitchen.... Just in case
As far as performance went it didn't get erratic until it got to pretty high speed on the retrieve. At a medium retrieve it had a nice wobble but did not search.
http://www.tackleunderground.com/community/gallery/image/12344-scatter-lip-crank/