Every lens I've purchased from them has been perfect, so I would ask them to replace it. The 70-200 is unique (among the ones I've ordered) in that it comes in a large brown box (vs the usual white one), sandwiched between a couple of large pieces of foam. The lens, hood, and tripod ring were together inside the lens case.
That's exactly how I received mine just this week. It also has "Canon" imprinted on the sides and a sticker that designates the lens model. To the OP, was the pilfer proof tape fully intact or did it look like the seal was broken? If that latter is the case, then it may have been damaged en route.
Just give them a call and set up a replacement. I'd say mine arrived in about 9.8/10 condition, but it is a superb copy and isn't worth replacing for that extra .2. However, the lens hood that came with it didn't lock quite as well as it should and there was a fairly noticeable scratch on the inside (not as big of an issue). So I called them up, told them about the defect, and within 10 minutes they were processing a replacement for the hood (that is, when it becomes available). In fact, I'd give them a call first thing tomorrow because the 70-200 is currently in stock and they should be able to send out a replacement right away. Their stock goes quickly!
Interesting, so I guess Canon is rolling out refurbished products (lens) in these brown boxes (with Canon imprints on the sides, etc). This is exactly how I got mine, the secure tape was intact. The lens is in immaculate condition, even the hood except for that small paint chip near the tripod collar and the minor blemish (which I cannot locate right now) on the front element. I will take another look at it in the morning and give Canon a call.
Thanks for all the advice and insights everyone.