Anyway, those who said it was heat, I'm now certain that you were right as look in the picture below (excuse quality). I had some of it around a mic plug connected to my PC, and that plug was right next to the exhaust of a GTX 580 - plenty of heat, and the tape split on exactly the side that was facing it:

So now I need to find a self amalgamating tape that has decent longevity and resistance to heat. Any recommendations?