If that were the case then have a vanity in the same slot as a Celestial Shell would mean that if you want to see the vanity you have to turn off the eye to not have a Werewolf buff visual.Social accessories should just not be visible when the eye button is off.
That may not be the intended use but let's be honest; almost everyone does it. It should be an accepted feature the community wants implemented and give us a visual toggle eye button for the vanities too. Since it's purely aesthetic, it seems very counter intuitive we don't have full control over the appearance, and as I mentioned; people already use it for storage as long as they don't care what the affects are on the way they look.The eye does not affect the social slot as that is the tab where you equip your vanity accessories... they are not a tab that is dictated in saving room for more stuff (well, at least it is not supposed to).
I've seen arguments that the visuals are punishment for miss use of the slots but that's bull, Franky. It isn't punishment, it's a fraction of an inconvenience. It only serves to annoy people with mild or worse OCD while the rest of us go unscathed, which to me sounds like something that's splitting the community.