Got my second one, and gave it to my Bard; Chanie. I did not take notice right away, but it gives a female face to her illusion vs. Barath when he has it on...
Chanie and Bareth with their illusions on
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If I remember the event from live, when you actually engaged Mayong he would go through Vulnerable and Distracted and his appearance would change too. So I am thinking their scripting would change the "sex" of the model to accomplish this.