There should be two meshes, the "1stpersonnameoftheweapon.nif " and the "nameoftheweapon.nif" , you must have forgotten to change the textures in the 1st person weapon.
Eorlund obviously has no idea about the powers of the ring, and he never tried it because his fingers are too fat, and whats the point of being a falmer if you are invisible? :D
Use Skyedit or TESsnip and make a new weapon, you can try this metod http://www.thenexusforums.com/index.php?/topic/469935-modding-skyrim-with-tessnip-and-nifskope/ that works fairly well with weapons
You would have to use Nifskope to change the ebony texture, or you could replace the \armor\ebony textures with the paladin ones, that would replace all ebony textures
I'm actually having the same problem with my custom helmet. That metod seems to work fine for weapons and rings, but i think you have to do some tweaking with armor.