Hmmmm I'm not sure. I definitely know I have rasestu on since I have maxed out laharl and etna just carry me through item worlds, but wait how was I able to steal the time engine in the first place if LoC wasn't on? By that logic I should have LoC and Rasestu on.
I'm bad at Street Fighter http://www.youtube.com/watch?v=mPeUqAVulJ0
It's a fairly standard 'unintended consequences' bug... there's never been a moveable Unique Innocent in the series 'till the Heart's Shadow, and those are rare enough that they probably didn't see much use during Testing. But yeah, turns out the item programming can't handle having two Unique Effects attached to one item...
Life is like a Blue Chest... you never know what you're gonna get.