Seeing GoldS' recent post reminded me that I should post my notes from recent glowing bauble checking. The following have no apparent reaction to having the glowing bauble equipped or in inventory:
Hawk, the Ghoul King, the Ocean King (can't use it as a gift, either), the Fae King, the plant in the Misty Offices, the evil eye in the park, the masked shaman, Mushy. The Squatter King has some minor conversational changes related to no longer having the original glass bauble in inventory, but that seems to be it.