I’ve also experienced this issue – it’s not a display issue. The reputation is functionally neutral: vendor prices are not discounted, quartermasters won’t sell anything, and NPCs are now yellow.
Here is a short list of other occurences I’ve seen logged of this issue:
This is game-breaking to many of those affected: it has erased progress and prevents work toward things associated with these reps. This rogue should have just had another attempt at the Royal Snapdragon mount with today’s reset, but is currently sitting at 350/3000 neutral. I’m holding off on doing weeklies and stuff until I know things are fixed.
This article now mentions the issue and says they are planning a hotfix. Note that the page was updated 4 days ago. It’s the same as the page linked earlier, which described that display issue, but did not mention what we’d been experiencing.
I hope, Nobully, that you’ve been presented with enough evidence to recognize that the issue Yemojah described is not the same as the display issue you found initially. It’s worth considering that they probably also searched for and found that article, and that they came here because it didn’t address their issue, and not because they failed to read or understand what was written.