I'm sorry. I really was very confident when I saw the original post. Mine had a hole the same size (and the same species) and recovered nicely even though the hole was caused by being left in a bag at an LFS overnight (ammonia and Ph burns, probably- very stressful). I don't know what has happened. It is really hard to say.
If you still want to give it a go, I would get it into an isolation container (as discussed above) ASAP. Leaving it in the tank unprotected may not be the best idea.
I hate to bring this up, but sometimes people want to know what to do in this situation. Once it really starts going downhill, a call only you can make, you may wish to consider these instead of letting it further disintegrate.
There are 3 options for how to euthanize a brittlestar (or any echinoderm).
1) You can reverse acclimate it by putting it into a container with a bit of seawater. Slowly add freshwater, a bit at a time, as if acclimating it. Eventually, it will no longer respond.
2) You can put it in a bag with a bit of water an freeze it
3) If you have any epsom salt, you can put the animal in a container with a bit of water, put about a couple of tablespoons of the salt in a pile in the corner of the container. Every 5 minutes or so, tilt the container to slightly stir in some of the salt. This 'relaxes' the animal, and eventually it will no longer respond. You can then add a good amount of freshwater to insure it is dead.
Very sorry.