... it can't be turned into Bindral Argaff for a Illusion scroll. I tried and I get the response:
Bindral Argaff stares at the item curiously before looking back up at you, 'I am... not quite sure what to say about this item. It does not appear to be something I can give you any reward for. It may not contain an illusion novel enough to separate itself from things you could already learn to cast, or it may be an item of limited activations. Either way, it will not offer a possible cure to my condition, so it is of no use to me. I thank you anyway, Enchanter.'