This is one of those cheap machetes they sell right?? I've found factory edges to always stink on those, they either have a burr along most of the edge that folds over or flakes off the first time they're used, or they have large unsharpened spots. They're not the highest quality knives out there but once sharpened properly they make great tools. They're pretty soft, but that's for durability purposes so they won't break, and also so they're easy to sharpen in the field. If it continues to chip after a few resharpenings give cold steel another call.
I'm thinking that you just used the wrong language with the customer service rep. Don't ask to "return" the knife, ask if the damage is covered under the satisfaction guaranteed warranty, as you think it may not be tempered correctly, and tell them why(the chipping noted in clean wood). They "should" offer to inspect it and offer a replacement if it's defective. I dunno if this is worth the hassle though, you'll probably have to pay shipping and the knife really isn't worth much more than the shipping cost.