Well, I took the bike to LBS today and Fred, the manager - (yep...FRED is his real name ) - said that it was the "master link" which is the weakest point on the chain. He repaired it as a warranty claim....

Anyway, he repaired it with a Quick Link, which he said was stronger and made removing the chain easier...unfortunately, I don't plan on removing the chain much.

Took it out for a hilly 20 mile ride tonight and the clicking is still there under stress, but it's not bothering me that much and everything seems to be shifting responsively.