Although it looks like a chip it sounds like its "Burnt", this can happen due
to many reasons, mixture too lean, piece of some type of crap getting between
the valve and the seat which actually causes a blow torch effect on the valve,
You see this quite regularly on air cooled engines where the temp is quite
high at times. If the others look O-K there should be no reason why you
couldn't just replace that valve. You should however inspect the seat
carefully, many times when a valve is burned or damaged it also takes the seat
with it. Also whoever replaces the valve shoul grind that seat or at a minimum
"Lap" it in with the new valve to insure a good seal. With only 700 kms on the
last valve job the rest of them should be fine. I think this is just a freak
thing on that one cylinder. I would take it back to whoever did it in the first
place, it sounds like you invested a lot of money in it, they shoul at least
take care of this one valve for you.
Good Luck,
Butch
88 Cabriolet (Daughters)
VW Manx Dune Buggy