I just received my Electro Eel mount for season 2 and I noticed mine does not have the blue electricity effect surrounding it, only the yellow. The blue electricity was one of the reasons I really wanted it ;_; If you look on Wowhead’s 3-D model it shows yellow and blue, and I see it on some other players as well, just not on mine.
Make sure you’re not using a TEMU charging cable, it doesn’t give it enough juice 
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maybe the blue electricity is for horde only?
i know vicious mounts generally have different visual effects based on faction
I checked and both Horde and Alliance have the same color electric effect (yellow/blue), only the base color of the mount is different