If you look that item up on 13th floor, where PEQ gets their items from you get this:
http://eqitems.13th-floor.org/item.php?id=38557
Looks like a normal item to me, but keep in mind that this item is clearly not a Titanium item, it is post-titanium. So, the Titanium client wasn't built to use that item yet, and probably doesn't have the Icon to display it and won't display the other stats either.
If you want to use that item, you would either need to adjust it where needed so it works with Titanium clients, or upgrade and use the SoF client instead which can support almost all items in the Database without having to edit them.
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