Failing to catch doesn't happen any more.
My archer got crowned with it and from playtesting, I believe it's too good now that it returns. It will sometimes fail to return, but not often. And you will never fail to catch it (bug?). It's reloaded for no extra energy cost. That means it gets close to acting like an infinite stack of extremely good missiles. Not exactly the same because it will eventually fail to return, but still close.
There are many possible ways to tweak. One option would be to make catching it fail sometimes.
EDIT:
More testing showed that the problem happens with other weapons too.
If you use a returning weapon (doesn't matter which one), you never get "you fail to catch it" any more, that I noticed. This does not depend on the weapon you use. This should be a bug report and not a feature request.