Circle of Arcane Power applies a buff the tool-tip calls an 'enchantment'.
Spellcaster is supposed to apply a stack when you or nearby targets are affected by a curse or enchantment.
Spellcaster does not apply a stack when you cast Circle of Arcane Power and receive the buff.
I have found that unlike most buff forms, Spellcaster is particularly fickle about stacking. Many buff forms can stack off their EB, and/or a reapplication or refresh of a triggering effect. Refreshing curses and enchantments is very hit and miss for Spellcaster.
On a related note: the advantage effect "Bane" of Skarn's Bane should really count as a curse for purposes of Spellcaster, but of all the effects Bane can apply, only one that I am aware of counts as a curse.
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As far as CoAP- that may just be a typo on the buff icons, as it doesn't state that it's an Enchantment on the power's tooltip or descriptions. Perhaps at one point they did intend all circles to count as Enchantments (only CoRG's description says that, but it doesn't work that way), and they may have changed their minds? Not sure, but going back to when the circle changes were initially made, I don't yet see a mention of them intending to be Enchantments. Ebon Sigils also state them applying a Curse, but they don't proc Spellcaster or Conjuring either (though in that case, possibly because they are a separate entity).
- Be safe and have fun, champs - for science!