Nah, that's normal J. The mandrel breaks off deeper in thicker material, it breaks off at the bottom of the material you're fastening to... so after the mandrel breaks you'll have to pump the handles on the tool a couple of time to pull the mandrel out completely.
Thanks Jiggy. Yes, I noticed the mandrel breaks deeper using thicker material. (3/4" plywood) But it almost seems like the mandrel is pulled into the ply a small amount. And the rivet casing is extruding too. I will rivet another 1/4" example and post for comments. Just want to make sure the tool is good to go before I begin riveting the deck into place.