Weighs 10.0 is why it's not so exciting. Seen one drop myself, but I spent a hell of a lot of time in Kedge. The mob is really rare, but it spawns in the room before Phinigel's chamber. There are 2 lesser seahorses and a shark in that room, and I think the shark was the placeholder for the named that drops the chest. The seahorses are also placeholders for a named seahorse, and the previous room has a placeholder for a third named mob (drops abalone gorget).
cool thanks for the input guys. i know where the spawn is..spawned em once in 2 days..dropped the crap wand of shadows hehe..heard reports that the chest might have been taken out so i came here to confirm ;p