User blog comment:TheTobarMethod/My Personal Patch 3.XX/@comment-5370508-20131030002441/@comment-5370508-20131030014333

So I went and tested this with my maximum gp/10 Ashe. The icon shows up on the champion who is holding the item.

Also, I think removing the arm time from Shaco's boxes would make him way too strong. Ranged, AoE, hard-cc needs to be telegraphed. The smoke and activation time are just like Nami's slow Q or Swains snare. Your proposed changes would turn it into Hecarims ultimate, except more spammable.