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Update: the chance does activate, but I'm not joking when I say it feels like one in a million hits. I've only seen it proc three times now against level 80 raids and Zaken, so you can gauge just how much HP and hits over time it's taken to see it appear. That said, it technically is a chance, so I suppose this bug report's void.

The Festival Ticket event? Is it June 11th already? It'll last, and people will continue paying NCoins whether its to enter the event or sell for adena in-game.

Having tested this both in PVP and PVE situations, this augment does not seem to work. After countless hits, no signs of attack speed reductions or debuffs occur. This test accounts for both the attacker trying to apply the debuff to a target, as well as the possibility that the debuff applies to the owner's attacker (as if there might be a possibility that it's a defensive proc.).

There's no level cap. Your story's similar to many who've joined over the past month, month and a half, who are now in their mid 50s, low 60s.