I think I have noticed the TM exp glitch too but forgot to report it (I used it for the extra WT >.<) and I don't have any available accessory or fast track box right now so could you post screenshots (equipped and not-equipped) to the bug report section?
Just so this information is here with the items in question, I did post in the bug report section and got a reply. This Ev version does NOT raise TM, so it is not a bug. The item description simply isn't any different from the regular version that does raise TM.
Here is the forum link to read it from the source: http://board.playtri...ory/#entry64935
It can't be equipped with the Duckling Keychain or the Moon Bracelet Ev because they are all in the same class of WT-boosting items. I had previously thought that it was because they were all TM-boosting items, but I was mistaken.