Um, that recipe is not wrong. That recipe is exactly right; 2 velium bits, coldain velium temper, scaler mold. I had someone make it right in front of me and can confirm that's the recipe they followed.
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Karazara Twoflower, 73rd rank iksar paladin of Tunare and Morrel-Thule (75th rank carpenter), Jaggedpine Defenders, Guk server
No merchant sells this regualrly. However becuase of its trivial (146) some smiths who have a lot of spare velium pieces may make a few for skill for sake of conveneince. This is likely why you were able to find one on a Thurgadin merchant.
But unless someone sold this to a merchant, you'll have to make it yourself (or get someone to make it for you) if you want one.
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Karazara Twoflower, 73rd rank iksar paladin of Tunare and Morrel-Thule (75th rank carpenter), Jaggedpine Defenders, Guk server