It is bugged. When a person wears it, everyone else on screen has a messed up interaction where player auras, their minimap UI, and also the character info UI start flashing endlessly, as long as the wearer is on screen. I am not sure if WP is aware of this bug. If you were not, well here it is.
Disable the damn thing until you fix it, because it annoys the living daylights out of everyone on the screen.
Some screenshots illustrating the issue. Things to notice: Opacity of minimap, UI buttons, and 175 auras. These keep flickering from opaque to transparent every second or so.