A recent fix in CVS should resolve the issue with "broken" rods/wands/etc. where the name does not match the spell effect.
Example: Horns of Plenty casts Magic Bullet
However, any broken rods/wands/etc. will remain that way and all future ones should work as expected.
The reason, It was an item generation bug.
"Broken" wands/rods/etc. update
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