No way. Your LDS is trying to get some more cash out of you. A BC is not life support equipment like a reg is, and it's nowhere near as complicated. If it holds air, that's a good thing. The power inflator is the only potential problem area, and as others have said, it's really just a matter of keeping it clean. If you want, you can remove it and soak it in an appropriate cleaning solution to get rid of any buildup. You can replace it easily with a zip tie. Couldn't be simpler.
Dump valves do not need to be checked by a technician or anything. You can screw them right off and take a look for yourself, but if they don't leak, then why bother? They are just a spring and a round valve.
The only thing a BC can do to really hurt you is for the inflator to get stuck at depth and you don't deal with it properly. Sure, it can pop, but no servicing can prevent that, and it won't hurt you. You can always swim to the surface (some people get confused and think if their BC can't hold air, then they can't surface...but remember, you VENT your BC to surface). At the surface, if necessary you can ditch weights to get positive.
Familiarize yourself with how your BC works and I think you'll find it's a very simple piece of gear that if kept clean will serve you loyally for years without "expert servicing" or better yet "nitrox cleaning" (another LDS scam).
Cheers
