Okay, here is my source about SoW, it is from a guildmate. The perception
thing may cover the first case, and the two may not be connected, but I
thought I would include it incase it inspires any new info.

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There are instances where the client will say you have spirit of wolf
up...but you aren't moving any faster. I have noticed this a few times but
have been unable to discover the exact reason or pattern as to how and why
this occurs.

The one bug I can verify and duplicate is one where you don't have the
spirit of wolf icon up but you are definitely SoWed. It will not wear off
until you zone or die. The catch is to get this way you first have to die.
Rather expensive and inconvenient if you ask me. You're better off getting
some Journeyman Boots.

The point being the client/server have trouble sometimes correctly keeping
track of what your movement speed should be. Nice if you get the perma SoW
but it sucks arse if you get the opposite.
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Tszaaz