Could be a number of things, but I doubt the solenoid has "had it" - very unlikely. Do you have a DYE tech nearby? If so, take it them.
If not, put a fresh battery in it and then read the manual first off and follow the trouble shooting guide. Usually, a leak around the solenoid will be because of an o-ring on the bolt, but it could also be due to the input pressure being too high or (more unlikely) the solenoid seat needs lubing and/or resitting. Don't take your solenoid off until everything else has been eliminated and if you can't get the gun to a DYE tech. In fact, if you don't know what you are doing, just don't take it off.
Also, feel free to contact Ash at DYE who will be more than happy to help you out.