Thank you all, and thanks for the info Alexis and Mando. Myself like Mike F also assumed it was a melted end I just couldn't conceive Leica doing something like that. Any how I guess thats why they changed the design.
The nylon cord is in fact very comfortable, unfortunately snapped right in the middle and I thought such a fine piece of optics deserved something better than a square knot.
Believe it or not I couldn't find a single pice of information on this subject in the whole www until I came to this forum. Congratulations!