"It is lined backed quad hickory laminate," I don't know what this means, or at least I'm not totally clear... is it LINEN backed? And then it's four hickory laminations?
Anyway, I also agree that it is bending just SLIGHTLY too much though the handle, because that's where all the reflex is. However, if it has only taken that much set there and keeps returning to reflex when un-braced, it can't be terribly overstrained, right?
Get that last inch of draw from either side of 12" in from the tips, maybe?