You definitely need to get that checked out. It could lead to more serious problems.
A member of the old Mythbusters forum, Rick4070 (all the Discovery forums were shut down Novermber 7, 2012), mentioned that when he was a gunsmith at a shop (I think in Washington), a Colt Anaconda came in with the top of the cylinder and part of the frame blown off.
The owner said it blew up while at a range, and claimed to have been firing factory Winchester ammo.
The shop repaired the frame and replaced the cylinder, but a dispute between Colt and Winchester occured; Colt claimed it was defective ammunition, Winchester claimed it was a poorly constructed gun. Rick recently said that when he left the shop, the dispute was still on-going.