Did some extensive testing on this while trophy hunting. All of this was done with the same character, same stats, same class (100 Flame Disciple). Hunted one specific mob exclusively the entire time, Enraged Yew Treant. Used Priceless Handwraps with 2 weapon sockets - first socket was same +Str crystal for all tests, second slot was Wolf's Bane for first two rounds, then removed the crystal and left slot blank. Flame Attack I was up 24/7.
Rounds 1 & 2 (with The Wolf's Bane)
R1: 3204 hits - 126.68 avg dmg
R2: 3792 hits - 126.507 avg dmg
Total: 6996 hits - 126.5862 avg dmg
Round 3 (without The Wolf's Bane)
R3: 5373 hits - 126.6955 avg dmg
I'm going to retest with 1 more long round with The Wolf's Bane in, just to make doubly sure after the servers come back up. Used handwraps because they are quick hitting - when I use the multiclass skill Magus Style I, which has a 5% chance of proc, it usually goes off at least once every 3-5 mobs.
To me it is looking like The Wolf's Bane is not working properly?