The capes of jubal now have bonus feat: DM tool 7. Instead of improved initiative.

When did you acquire the cape?

Prior to the patch, I'm not sure if it is a problem with prior-patch capes or all of them.

This should only be an issue with capes acquired before the patch. You should be able to exchange it for an updated cape by contacting a DM.

It was decided to update the cloak by removing whatever custom feat was added to it. DM Tool 7 is not currently set to do anything for PCs, which is almost as good as not having the feat in the first place. There will be no need to exchange the cloak for a new one.