More fun... the bug applies to most player textured (not pre-textured) items - it makes their texture invisble. When you log in, the clothes appear black. If you put something else on then put the clothes with the missing texture over the top you can get some interesting funky effects!
HumbleBundle features some 20k assets to be used in CryEngine at the moment. Maybe someone at MA can take note?
Unfortunately, those texture aftereffects are client-side, others see you plain black. Cyrean Holiday Hat and Elf Cap have been broken in a similar manner for at least a year. Maybe they'll fix those, too.