Sorry, I was reading a summarised version which I had on my computer, it says:
"The bearer gains Initiative 10 in CC"
I assumed that was what the rulebook says as well, as everything else is worded the same way as in the BRB. I have since checked, and it turns out that you're right, so I guess I'll have to start using the sword of swift slaying, or the helm of many eyes. And I better point it out to the people who get me with it.