Yeah, mine's just got a little black knob, too.
The first time I used it was to make the no-knead bread from the NYT article, and it went fine. My dutch oven was a gift, and bought brand new, so if your's is an older model - then I can't vouch for it. Perhaps they made improvements when/if handles started melting?
Disclaimer: I did this in our old oven and it is possible that the temp wasn't all the way up to 450. I have not used it in our new oven that I know is correct, so...
I have heard of people replacing the handle with a metal drawer pull from HD and having it work fine. Just an idea...

