I can't find any reference for the bit you mentioned - perhaps it's old?? However I'll presume that it has a bearing at the top. You said you made three passes so, are you using a fence? Is the tear out at the end that went through first?
Still assuming here - if you are not using a fence, is it possible that the corner of the board hit the bit and caused the tear out - did you feel the grab or just see it?
So if that board is ruined, try flipping it over and send the other end through first and see if you get a smoother cut.