Halfhitch, does the 200' have any chain attached. How deep do you anchor, how often, and how much rode do you want to end up with? If more than 400', I would splice a longer rode with chain to the 200', and put the longer rode on the anchor end.
The chain splice is the same size as the end splice, but only for 2 or 3 tucks, until it is tapered the first time, and I doubt that that first inch or two is ever the only thing the gypsy is pulling on. An end splice would have twice as much fat, before it is tapered, and that might be long enough to slip above the teeth, before the gypsy grabs the rode behind the splice.
I would see if the fat part of the splice actually engages the teeth, at its widest point, or if the gypsy is still pulling on the thinner part of the rode until the first chain link engages.
The rode has to stay engaged with the teeth to the bottom of the turn, not just run across the top. I am not confident that a foot or more of end splice would be flexible enough to do that.