The chest piece now looks like the merchant's tunic in the menu, also the merchants tunic appears to be gone from the transmog system at the blacksmith.
The cape looks like the Magister's cloak
also the boots look nothing like they do in the icon
the other armor pieces of the set are fine. there is however a similar issue with the sickles from the Wrath of the Druids DLC, they share the same icon despite looking disticntly. The Bone Sickle uses the Ceremonial Sickle's icon