The Holy Shield +1 has two special effects, the glowing particle effect, as well as a glowing overlay. The overlay seems to not be scaled to match the size of the shield (the lighter, inner part in the picture above), though the shape looks of it makes it seem it should match. The placement might be a bit off as well (it is noticeably behind the shield instead of on top of), though this may just be a side effect due to the scale.

Given this, the particle effects might be off as well, but I'm not sure how it is supposed to look.

I have not seen this shield on any other races, so it may be restricted to just Roegadyn, or could be a common issue across the board.

Time: N/A (constant)
Frequency: Always
World name: Hyperion
Character name: Alderton Morris
Race: Roegadyn
NPC name: N/A
Monster name: N/A
Class/Level: Paladin 50
Party or solo: N/A
In-game time: N/A
Area and coordinates: N/A
Steps:
  1. Have a Roegadyn male equip a Holy Shield +1
  2. Draw the weapon
  3. Notice the glowing overlay doesn't align with the shield itself.