I checked the leather man website http://www.leatherman.com/products/tools/Knifeless-Fuse/default.asp and it puts a link to the TSA's website but no where does it say it's TSA approved. I do think the way it is set up it's misleading making you think that it's TSA approved. But to cover them selves, it never says it's TSA approved, only:
"Sometimes having a knife as part of your multi-tool set-up isn't necessary. For these knife-prohibitive situations we've created the knifeless Fuse. All the necessary features from the original Fuse—including an additional file—without the liability of the knife."

I agree with mailing it back if you have time, but alot of places don't have the over price kiosk ( http://www.tsa.gov/press/happenings/mailsafe.shtm ) and you would have to get out of line and find a mail drop (if the TSA agent lets you have it back). This type of treatment of passengers is why I will not fly on an aircraft unless it's absolutely necessary. My boss has tried to get me to go out on trips to do recovery at work and I told him I won't fly because of the gistopo type mentality of the TSA. I drive everywhere I need to go or use a boat or my friend has a small plane and I'll do that but not commercial. If I can't carry things on the plane Pre 9-11 then I don't need to fly that bad.

The TSA is way out of control confiscating anything they want to take home and keep and there is no recourse of there actions. You can file complaints and send e-mails all day long unless you get someone who has a lot of pull involved nothing will happen. I'm sorry to hear you lost your tool only to have some untrained brainless drone take it from you because this makes him feel empowered with his worthless life.

Sorry for the rampage but I always get uptight seeing our rights slowly taking away day by day.
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Failure is not an option!
USMC Jungle Environmental Survival Training PI 1985