OK, I am very disappointed. With today's patch 2.7.1, the downward pointing flap was added to the chestpiece, and the belt has no flap.
So sad, so sad.
I paid real money to unlock this set, and paid real money in the Appearance Designer to change multiple toons to look better when wearing this belt. I patiently waited for months for Bioware to fix it, and now they completely change the look of the belt and the chestpiece.