This is the same problem (we think it is fungus growth or some other clumping of the lubricant) that we have had with the LED switch. Perhaps the lubrication failure is worse in the LED switch because of the tiny spark producing ozone when the LED current is interrupted, but this spark doesn't happen when the switches are in a signal path, so the switches aren't as big a problem in this application. But you're having a problem, so I need to send you a new switch. You will need to find a local repairman to solder it in for you.
We have changed switch manufacturers over this very problem. The previous manufacturer have moved the manufacturing from the US to Mexico, and then to Costa Rica. New they are going to China and we jumped ship before then, as the price went up each time and the quality has degraded each move. The new maker is in the US and Mexico, and they have been very reliable.
Just email me your shipping details and I'll send you what you need.