It was user error - instead of the exchange happening with the exchange specialist, it was with the weapons specialist. I think this should be changed, but I'm just a peon.
The wiki says the one in Lion's Arch, went there, not listed. I don't have any invisible bags.
But, it's literally not on the vendor list so it wouldn't matter anyway.
I'll try to submit an in-game report, thank you.
I'm trying to exchange my Chop-It-All Logging Axe at the Black Lion Exchange Specialist in Lion's Arch, but it isn't listed.
Is there any way to exchange this or has it been removed?