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The first picture looks like the top of the belt to me, not the pulley. I would be concerned about that much damage to the belt, but I have not had that kind of damage before.
Guys - the OP's post doesn't show any damage to the pulley. He's posted one side of the belt and the other side. Conrad - I think you're good for now. Just monitor and change if belt appears to become worse.
That very similar to the puncture I had on my '96 RK back in about '98. I repaired it and that original belt is still on the bike almost 12 years later at 120k miles. Since it is a center puncture, follow these steps and your belt could easily last for many years as if there was never any damage to it:
1. Clean all the debris out of the hole.
2. Using a small screwdriver or similar sharp object fill the hole thoroughly with J-B Weld or other two-part epoxy.
3. Smooth it out as much as possible on the outside making the patch area as small as possible, then apply a patch of plastic kitchen wrap on the inside.
4. Roll the belt over the repaired area so the plastic wrap keeps the epoxy off the pulley. When it cures the pulley's cogs will form the epoxy in the same wavy shape as the belt.
5. Let it cure for at least 24 hours and you can remove the plastic or just let it come off on its own.
Damage closer to the edge of the belt is more problematic and I wouldn't try to repair it if the edge is torn.
I also rode many miles (70k +) with a hole punched thru the center and a grove cut on the outside of the belt about 3/8 " in by stones. Belt went 97k miles. I fogot that was on the older wider belt I had on the EVO but the newer ones are suppose to be stronger.
The first picture was a little confusing but yeah it is just the belt, you can't see the pulley teeth. Although I must say I had to go out and look the pulley over to see what I was missing!
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