BIOWARE PLEASE READ:
This is how you fix the problem.
Create a temporary vendor that contains the armors (Phantom, Spymaster, not sure if others) that were falsely advertised. The vendors should contain BOTH the "old" and "new" armors. The cost for the "old" armor would be the "new" armor, and vice versa.
This way everyone can have the look they wanted, no more QQ.
This makes a lot of sense.
Alternate way to avoid a vendor. Make them two separate items (would have to happen anyway) remove the item from everyone and refund the coins and let them rebuy the one they want.