We had this conversation on the Marshal board about a year and a half ago, and the answer is yes. Unfortunatly, it's not in the book or the addendum, but it was expressed that since it's a binding spell, a release should end it, as a release ends all other binding spells. Since it's not actually written anywhere though, and I'm not a marshal in this chapter, I'll have to leave it to someone who is to officially look it up. One of the threads that touch on this are around post 1056 on that board. The conversation is actually who has to be the target of a dispel to drop a repel, but it touches on release as well. (For the record, it's the recipeint who has to get hit by the dispel, not the caster, even though he's the one maintaining the spell.)
~Matt