I don't have any pictures at the moment, but can try to add one later.  Got it from a well known seller on Ebay last September.  It was in a one gallon trade pot and I immediately put it in a 2.5 gal SIP and have kept it indoors all winter to prevent dormancy.  Kept it in a east facing window for a couple of months, then put it under a 6500K CFL. It had about five good sized leaves.

Well, it hasn't grown at all. The leaves never got bigger and it never grew any new leaves.  And the leaves feel very dry, but stayed green.  Not even changing the shade of green.

A couple of weeks ago, i bent one of the leaves downward about 2 inches from the tip (about 45 deg bend), and it snapped the main vein underneath.  Some latex dripped from it.

Last week, the largest leaf suddenly turned yellow and dropped.  I've also noticed that many of the leaves have some dried up edges.

I think the SIP has kept the soil too moist.  I haven't added water for 2 months and it doesn't seem to be using much.

I think I should dump the water from the reservoir and remove the plastic covering from the top and let it air out some.

Any other suggestions?  Should I repot it in new soil. Should i bare root it and repot, or not quite bare root.

maybe your SIP is taking up too much water? i don't use SIP so no clue what's the situation with SIP is. but if the leaves are drying out, that could mean water problem or too much sun/light. sure it's not too close to the light? i don't use indoor light either. i go KISS with my indoor set up and just keep new cuttings alive until the night temp is above 50. all my 1 gal from last spring sleeps in the garage, including Black Madeira. 

James,
I would check the roots...
Its possible that it may be too wet or not aerated enough, which will both cause root damage.

I've been too afraid to unpot it.. afraid i'd make it worse.  Sometime this week, I'll pull it out and check the roots.  Hopefully it's not too far gone..  this puppy was pricey..

Check under the cover to see how moist the soil is - if you have not had to add water in that long maybe it is not wicking at all and the soil and plant are dry.

I wonder why you didn't let it go dormant?  I would never dream of keeping a fig tree inside a house by a window all winter.  In my opinion it is better to let the plant rest.

Until you know whether the soil's wet or dry it's pointless to give advice.  We don't even know what type of soil you're using.  It's not dead yet and hopefully we can keep it from dying.  If the soil's saturated submerge the whole thing in water, gently separate out the roots without breaking them and let them air out but not dry out.  Then take pictures and we can hopefully help you.  If the soil's bone dry then water the poor thing.   :)

Yep.. I'll poke it with my moisture meter first to see what it says..

I had a tree given me and I kept it in my basement thinking I could keep it from going dormant and it did anyway... I was afraid it was dead but we had a warm spell and it has started to put out leaves... so maybe there is hope. My basement stays around 60...

James in,  I'm with you!  I was afraid to let my smallest, 1 ga babies go dormant so I'm keeping them in a greenhouse and they are ruining my life.  LOL   In and out, and out to regulate the temps.  I'm a yearling newbie and where I came from, if it's not green, it's dead!
I wish you good luck.

newly rooted 1 gal might need to say indoor. but if the cutting is few months old and the woods are hardening, they can be left in the garage to over winter there. indoor is just too dry for the figs, at least our house is. typical plants we buy for the indoor lasts 3 months before they dry up and die. with centralized heating and what not, the top is too dry and the bottom is too wet. one or the other will go sooner or later. i killed two of Persian White last yr by moving them to 1 gal and leaving them indoor. then again, they were too young to stay in the garage. one that i moved to garage died too. but the Conadria i rooted later summer last yr, are green but doing rather well in the garage. 

I did have problems with Black Madeira before...

First they are kind of hard to root...

Next past that; a few grew well, but most were kind of stunned.

Any signs of FMV? If so, give a regimen of 1/4 -1/2 dose MG food.

Doing nothing, showing no growth is not unusual for BM. My ai-layers go into the greenhouse for the winter, but generally do not do anything till spring. They go into the greenhouse precisely because they don't thrive early on, and if they were not in the greenhouse would have a high mortality rate. Keep them inisde, as warm as possible, water appropriately, and be patient.

It's definitely not drying out.  Condensation on the underside of the plastic covering the soil.  The moisture meter pegs out at 10 just a few inches below the soil surface.  So it's way too damp.  Somethings going on under the hood though.  After removing the plastic cover, there's another tree coming up on the edge of the pot.

How does this sound before uprooting it..  dump the water from the reservoir and leave the plastic off and see it the moisture level goes down.   And poke some holes through the soil for aeration. Would it help to put sandwich baggies over the leaves to retain moisture?  or a dome over the tree leaving at least half of the soil surface bare?

Or should I bare root it, as rcanter suggested, let it air out a little and repot.

  

if I were you, this is what I would do.

line an area with newspaper or a large tub.   remove the water all together.

lean the pot over the news paper and just jiggle a little the wet soil with no roots should fall out. use a spoon to gently loosen more soil, try not to disturbe the roots. replace the wet soil with dry soil (2 or 3 cups).

put the pot over a grid or something that will allow to drip excess water.  Some will moist the dry soil you added. Wait a few days.. if the new soil is not moist, you may spray a little, remember it is wet in the middle.. eventually gravity will pull it down or the plant will drink it. Do not water for a while and continue monitoring.   you may not have to repot it.

let the little one alone, perhaps that is why it was busy making a baby... you will be able to airlayer it later on and have a second tree.

James, for a notoriously fickle Black Madeira, your tree looks fantastic. Plus, a new shoot is sprouting. Listen to Jon, as he knows of what he speaks.
The most I would do is pull out the inner pot and if there is still some water in the reservoir, I would dump it,
PS, no surprise that there appears to be some FMV distortion to at least one of the leaves. No biggie!

BM grows very slowly. but it will put on ton of figs. your pix looks fine. i think you are over worried with this specific variety. don't over water the tree, that's the quickest way of killing it. 

It's just the dryish/brittle (yet dark green) leaves that worry me.  I've only seen that once before on a White Texas Everbearing that grew one leaf and stalled for 2 months in the peak of the season.  I quit watering it for a month and finally it started growing leaves again, but the root system was very weak.  I'll let this one mellow a while w/o watering and see how it goes.

Thanks everyone for the advice and support!

>>> It's just the dryish/brittle (yet dark green) leaves that worry me.

I did notice a similarity to that too.

Is this another FMV symptom?

I can't open the picture but if the soil is saturated I'd want to look at the roots and cut away anything already dead and then repot the healthy roots.  I'd rinse the soil off of the bottom.  If the roots there look viable then you could leave the root ball to dry somewhat - wrap it in weedblock or fabric or whatever.  It's great that a shoot is coming up!

The Black Madeira leaves continued to yellow.  After I moved it outside to the green house, it suddenly dropped all it's main leaves.  But the little sprout to the side has perked up.  It has 4 tiny single lobed leaves.  One of them is slightly yellowed.  We'll see if it perks back up for spring!  I have some more cuttings coming from Jon as backup.

I have 2 cuttings of Black Madeira I started last year. They are in a greenhouse, so they have extra time to grow, and yet they are both almost the same size as they were when I started them as cuttings. They only grow a few inches. I am going to try to remember to fertilize them on time every time this year to get them going (I hope).