Doubt it would be your 007 but possibly. I don't have a boost gauge so will need to leave the question of boost levels to someone else.
As for your TIP tho, are you talking about the standard, black rubber thing that the car has as standard? If you take it out completely you're going to need to break some of the clips, some of them are single-use clips. You'll need to get jubilee clips to put it back on again but while you're at it you might be as well replacing the TIP for a silicone one from the likes of Forge or Samco.
If you do a search for boost leak on here you'll find heaps of info, this one's been covered loads of times even in the few months I've been on here so it's a well understood issue.