No, but here is what I did and it shows the problem is cumulative:
1.) I sold a bunch of armor and weapons to Olaf (all properly named)
2.) I left the BattleField back to Act III main Game
3.) I returned to the BattleField and checked all of the items that I had sold to Olaf - All of the item names and Icons changed to be incorrect like his own inventory.
Also it looks like when I return to the battleField all he has are the items I sold him, all of his own inventory items are gone. And the names and Icons of what he has left are incorrect as indicated in my original post.
All of the other vendors items, when I exit and re-enter the BattleField are different, but still do not reflect what they really are. Example: Now Elkar has a Wand named Normal Arrow that sells for 1 gold and a Ring named Ghost Hit Black Ring that sells for 1 gold and has a stat of Spiritual: 49-71.