You mean the optional final upgrade that doesn't add any stats, only makes the wielder glow? (Not even the weapon.)
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Do the other HQ weapons special effects work? Maybe it's something they plan to add later on. Things like this are usually fixed quite quick, the fact it's still broken suggests they either don't know why it won't work, it is working as intended or it's unlocked in some way in the future.
Hecatomb Wave, Sandspin, Barbed Crescent, and Tourbillion, I think?
The magic accuracy of their additional effects only accounts base stats and ignores gear merits etc., basically you'll have trouble landing the additional effect on anything above level 50 iirc.
They get no magical accuracy from BLU skill, I think Prothescar thinks. (argh!)