I have never seen one of these drop nor heard of one ever dropping. It is supposed to drop from 'A Nightmare' in Plane of Fear.
There is nothing interesting in these links other than listing item stats. The allakhazam entry has no mention of it being a new item, but there's no comments prior to 2009 either.
http://wiki.project1999.com/Wand_of_Darkness
http://everquest.allakhazam.com/db/item.html?item=65994
http://eq.magelo.com/item/12505