Sean,
We can't comment on the EDX report; but, we have seen these types of problems before.
We would initially agree with you that it seems like a material issue. A solderability test should be performed on the part, and on the board. Easist way to do the board is to paste/reflow an empty board in the normal process, and check out the solder formation. Easiest way to check the part is to have the leads tinned, then solder to the board (while taking a non-tinned part, and also soldering to the board).
Beyond material finish issues, consider the planarity of the leads of the part. If the leads aren't relatively co-planar (I say relatively, since it's not a significantly fine-pitch device), it's possible that the leads are not sitting in the paste enough for reflow.
If planarity and solderability are not at issue, then my next guess would be thermal inbalance of the device layout. If the solder is not reflowing at a uniform rate in reflow, the component could be pulled in one direction, and lift the lead out of the solder.
cheers ..rob
reply »