Tested it too because there is no reason that the event differs from circonian's callback and it's working on unequip too, sending an update reason = 0 (default). You must have made a typo while testing or just looked at the last result which may have been the item landing in the backpack.

Randactyl should take a look in here too ... got floating locks around my doll now , but it's refreshed on bag reopening in his case.