Parasite card still not working correctly. To make sure, I re-checked today.
Does not reduce incoming neutral damage by 5%.
Tested it by equipping shield with and without (same shield, decarded to compare) and damage did not change from incoming attack from a player character with maximize power on an eden weapon, so no variance. No other gear was different in the setups.
It says gives 5% neutral, but it does not -- probably still gives formless resistance.
This is a known bug, kRO fixed it in 2012, info can be found in their patch notes here.