You can buy orings at Home Depot also. Can't remember the size but search archerytalk. I bought a bunch a couple years ago for a couple bucks. I tried using my daughter's braces rubber bands however they broke too often for me to trust them.
Sounds like a fix. I tried the rage and was frustrated with the same problem. Seems like something of that price would have that issue engineered out of it. Went back to reapers.