I can provide more details on reproducing this bug, as I was getting ready to report it. 
Activating and deactivating War Paints in the 1-8 hot bar item slots can permanently erase equipped gear from your character. Using slot 5 will erase your currently equipped Torso piece. Slot 7 erases your Leggings and so forth. Each slot consistently destroys the same piece of gear, unless nothing is equipped in the corresponding slot. This can also destroy and 1h object being held in your main or off hand, but does not seem to effect 2h weapons.
This bug is present in the latest patch with no mods. Here’s a complete list of equipped items destroyed when you deactivate a war paint in each slot of the hot bar, in case that helps any:
Slot 1 = No visible effect
Slot 2 = Destroys equipped Main Hand; 1h Weapons, Tools
Slot 3 = Destroys equipped Offhand; Torches, Shields, Throwing Weapons
Slot 4 = Destroys equipped Head armor
Slot 5 = Destroys equipped Torso armor
Slot 6 = Destroys equipped Hands armor
Slot 7 = Destroys equipped Leggings armor
Slot 8 = Destroys equipped Feet armor