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Confirmed and fixed, and you were right that it was missing entirely rather than mis-pointed. Toymaker Hammer (1422036) had NO entry in the equip render bundles, so the rig had nothing to draw and you rendered bare-handed.
Root cause: the extractor picked items by matching one of nine hard-coded equipment-slot names, so anything outside that list was invisible to it - every face/eye/ear accessory plus a tail of weapons and capes added later. 104 items total. All of them exist in v83's Character.wz and have now been extracted (the hammer gets its full two-handed stance set: stand2/walk2/swingT1-3). The extractor now keys off the item definition instead of a slot whitelist, and it treats 'plan built from another item's art' as unbuilt, so a stand-in like #6's cannot survive a rebuild.
(On the dev branch - it will be in the next published build, not v32.)