Two issues:
1. My existing Butterfly powerstone pet (in my bag) that I have used for about a year became wrapped again following the GoTG update. It had 2 powerstones equipped at the time. The powerstones were still present after unwrapping.

2. When unwrapping it, a dialog box appears:
Begins countdown when unwrapped.

This is very misleading (as it implies it is a time-limited rather than permanent item), and should be changed. It should probably say instead that the item binds when unwrapped.

Region: NA
Server: Kadum (Legacy)
Steps to replicate: NA - unknown. Possibly the issue is related to a marketplace update, the butterfly power pet shown on the marketplace loyalty section is wrapped and tagged 'New' though it appears to be identical to the existing one.