As I'm still having problems with my Graphics Driver, I'm able to see things that no other Knight can see. This is an example:
http://i529.photobucket.com/albums/dd333/Sonic402183/VoltailCoatLAWL.jpg
It looks like a fusion of Ashtail & Quicksilvermail. Its purty awesome, if I do say so myself. :P
P.S. It retained the Quicksilver's Static effect, too.
Something similar happened to me graphics-wise, but all it did was turn parts of armor (especially cobalt armor) bright green.
I don't know how to get rid of the effect either, I've tried reinstalling it too. I must admit though, your graphics error looks really cool.
What I see:
http://cloud.steampowered.com/ugc/576679876754314730/B05A7C67143355A8961...
http://cloud.steampowered.com/ugc/576679876754309795/40696F820752A22352F...
Honestly, I don't know if being nearly blind is a good thing or not with my Graphics. All I can see are my Knight's Helm, Shield, Sword & Upper Torso.
The up-side, is that I see strange/cool/funny things on my ventures to the Clockworks. Like Kats looks like big Pucker Lips 'bout to kiss ya. :D
We'll just call this one a happy accident. *takeallofmymoney.png*
I used to have a graphics bug where all the armor was white, but only in the Advanced Training All.
Like so: http://i.imgur.com/obTjA.jpg (lol pills, I was just there for the screenshot, someone else did that)
But this was months ago right after it was introduced, it's been fixed for a while now.
this actually looks really nice xD