We lootet two different pants with the same icon from Magmadar:
https://classic.wowhead.com/item=16822/nightslayer-pants
https://classic.wowhead.com/item=16835/cenarion-leggings

While Nightslayer Pants was being bid on, both pants icons were framed. (new bidding window)
The text was correct though, so no big problem arose :)

Version 2.0.1

Just fixed this. Highlight will terminate when a bid is no longer in progress.

I'm pretty sure, Nightslayer Pants was the first item that was bid on.
And the other one noone wanted (no bid)

It'll remove all glow frames when either the timer runs out or when you hit end bidding. It's supposed to remove all glow frames when a new auction is opened but it appears to ignore it occasionally