It should only affect lift, and won't hurt anything. You just won't be able to go into lift at 6K if the valve or its wiring is damaged. It's just a valve screwed into the right side of the head. You can probably see it if you remove the valve cover plastic and the PCV hoses. It should look like a gold cylinder. If you're under warranty it should be free. Not sure about the cost if you're out of warranty, but it's definitely something you can replace yourself.