Found this on a miniboss in one of the Mistmoore Dungeons, The Aisles of Blood. Sorry, can't remember the mob's name. The average level of the group was 39. The person who zoned in first was lvl 38.
Which of course, as probably everybody knows by know, has absolutely nothing to do with the level of the dungeon. Only the average level of the whole group at the time of accepting the adventure matters...:)
Now this is only speculation, but wouldn't something called a Fallen Froglok's Scepter belong to something relatively like a Fallen Froglok? And if so, wouldn't that mean that this most likely drops, or SHOULD drop at any rate, in Deepest Guk?