Upgraded Tenser Disk to Legendary using upgrade tokens. Visually the disk changes to orange Legendary however stats are still epic level with no legendary combat power. This has been confirmed by Arc games master looking at account and images provided.
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you are not suppose to inherit high end custom mount combat powers / abilities when upgrading them from purple to orange to teal / to max if not the lockboxes containing them (high end sought after mounts ) would be worthless
.. you get the generic 3 aoe/ single target and heal combat powers when upgrading thats all
the only way to get high end custom mount powers is not by upgrading it from lesser ones .. its by pulling it (the desired mount and its combat power) outright in end dungeons drop or a lockbox or in auction house
the main character stats that the mount provides (+power accuracy etc ) will still be at nominal level unless you have fully upgraded mounts 10 teal mystical mounts (100% bolster )in the stable that all contribute to the mount stats
a bolster bonus is a max of +15000 to the main primary summoned mounts stats (with a fully upgraded stable)
the better the collection of 10 quality mounts you have in your stable the better the bolster mount bonus will be .
also the higher you mounts are the higher end collars they can wear as well
https://www.arcgames.com/en/games/neverwinter/news/detail/11477413-mount-changes-&-upgrades
As mentioned above, insignia slots do not change as your mount is upgraded. Along with that, you do not unlock additional costumes or powers as your mount ranks up. This means that the rarer legendary mounts will retain a good amount of their uniqueness including their multiple universal insignia slots and their unique combat powers.
remember tho fortunately the bolster will also increase how much damage any mount attack activation power magnitude does as well .for all you mount regardless of the one upgraded ..it will always pick the best bonus
any bolster increase that base stats of any mount you equip even if its un-upgraded vanilla purple mount
so upgrading any mount even by accident is not really big a waste overall ..cause it all adds up
"All mounts now have a Passive and Combat power. Those powers scale up as the mount is increased in quality. Any power shared by multiple mounts will scale to the highest quality mount that you own which grants that power. Mounts which previously didn’t have a combat power will have one of 3 generic new combat powers that either do: Single target damage, AoE damage, Self Heal Over Time."
I just looked at same mount on another toon and it appears upgrading it did upgrade the stats and combined rating across the board. With a toon with no other equip power of "power" it gives just 3615 power but on the other toon that upgraded to lego it went to 7350 power. I have no other mount on that toon that gives just power as an equip power so that must be the correct number.