The anchor, when placed in the world, does not update it's visuals once it has been successfully toggled on.
Disabling it after this does not change it's visuals and appears to be "enabled".
This behaviour persists even after a server restart.

I will look into this

Are you sure that the anchor is actually turning on? In order to power the anchor, you will have to create a team first and put enough money into that team.

Yes, the anchor is correctly turned on initially.