99% sure you'll have to replace it. I broke the shift lever last year. It's pot metal so you can't weld it. I tried JB weld and it lasted 5 minutes. I drilled into the base and into the lever and JB welded a rod in there, that lasted 10 minutes. I got a new lever from seadoo parts warehouse. You could also try eBay.
In my case, I was shifting into reverse from the dock, and it popped off in my hand. I think something bound up in the cable as I had to replace that as well.
I only replaced the shift handle itself, not the whole unit.
Is the F/R shifter part the same on the 96? I know there is only 1 throttle lever on the assembly, but could I part-out the F/R lever if I bought it and use that?