I see in the red circle...a sot-23/to-236ab possibly a Traditional transistor; n-Metal-Oxide Semiconductor Field Effect Transistor?
Each voltage phase or channel uses one choke, two or three transistors (or a single integrated circuit replacing these transistors-example>DrMOS), one or more electrolytic/ceramic capacitors and one MOSFET driver integrated circuit – this last component can be replaced by the 3rd transistor.
My experience is when these burn out one side will crust or flake and burn the plastic on one half of one side. Therefor putting more stress on any other voltage regulator power delivery mosfets. Yours does not quite seemed to have completely burned out the metal oxide that provide tiny holes for the power to flow though between the outside two legs of the mosfet(source/gate)...yet, chances are any other parallel mosfets (2?) working out-of-phase with it will overheat and fail along with it, if nothing is done about the one failing, the high side or the low side mosfet or both mosfets and possibly more circuitry. This circuit may have three mosfets but the mosfet driver may be the square chip to the right with many metal legs on it PCB marker U11. The PWM controller may be the large many four sided metal legged chip above area in question.
* While you still can record the information on the chip and find a same replacement $3.00 to re-solder in its place. If only some information on the chip is readable look for others of the same type with the same partial information and fill in the missing blanks or find a good picture of the area for the chip markings. It is impartitive a replacement be done if the plastic case sealing the bonded metal oxide is breached/burnt "shorting" its life span.
I do not claim to be an expert nor do I have any knowledge of your video card in question. I do thank your for your question and the opportunity to take a quick peek at your card. Wizzard has a greater knowledge base and may have a better understanding of the question you seek.
My answer is yes you should be concerned, you should not try to overclock your card and temporary remove card from service. What also concerns me is the location in proximity of what appears to be a PWM controller above the area in question and this piece you ask about is part of a complete circuit of some kind that is also near the power plug supply.
MOSFET testing from the W1zzard
http://www.techpowerup.com/articles/overclocking/voltmods/21