The splice looks like a push/pull type connection. Try pushing on one side of the connections into the dumb bell looking thing. That should let go the hold that the ferrel has on the tubing. It looks like the same type fitting on the end in your hand, push in on the tubing and see if it will loosen up. Then keep your finger nail on the black ring to prevent it from tightening back up when you pull the tubing out of the fitting.
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