The hole in your dental crown will definitely lead to decay. Sugar and acid (the things that cause decay) will get under the crown via this hole. This decay may be more extensive the longer that the hole has been there (or the longer you wait to fix it). If the tooth under the crown is too short, then you many need to have an additional procedure called crown lengthening to provide more tooth structure for a new crown to be cemented to. If the crown keeps coming off or wearing down due to grinding, then you may eventually need to have the tooth extracted and a dental implant placed to replace it. Another option would be to treat your teeth grinding with either TMJ therapy and/or a TMJ appliance or night guard.