Hi Chris, welcome to THL.
I'm sorry to hear about the issue with your OS Chronograph.
I don't know where the gift giver bought the watch, but it could have been sitting for awhile, and the lubrication oils may have dried out. I have seen this happen before.
I would not be concerned with a watch repair. Standard practice for normal service/maintenance is to take the watch movement completely apart (into each of its individual components), clean and inspect, then reassemble. It will be properly oiled, adjusted, and calibrated (just like a new watch). If there are any components that might be seen as non-spec., then they will be replaced as needed.
I'm sure this is what the VC watchmaker in London will do for you. The movement is a very reliable, tried and true, so I would not be concerned about a design issue.
A new watch has a 2-year warranty, and any VC service also carries a 1-year warranty. I believe (and hope) your watch will be working properly when you get it back.
Best Regards, Dan