Hey everyone...so the 0707 was RMA'd to ZT and they promptly gave me a refund. I then ordered another one from BladeHQ and that one at least flips open, although the detent is a little tight...I think it'll break-in just fine after 100 flips or so.
So long story short...there was something definitely the matter with the one ZT originally sent. I have several other flippers and have never encountered anything similar...in fact, I also purchased a Civivi Shredder from BladeHQ and that flips open like a dream ($57 knife).
So all's well that ends well...just wanted to give a quick update and thank you guys again for your input and expertise.