Yes. For as long you have the receipt from an authorized dealer, if the replacement fails for the same reason 100 times or 100 times with a different reasons, it's replaced 100 times for as long Monster carries the model or equivalent, but only as long as the fail reason is deemed a defect, which most are classified as such. The one time at fault warranty applies only if you decide to feed them to your dog on purpose, or any other purposeful reason that does not fall under manufacture defects.
The reality is that most people don't use the same IEM for 5-6 years. Monster marketing knows this regardless how crappy built some models have been proven to be.
Edited by alphaphoenix - 10/19/11 at 10:19pm