The new AP item twin shadows looks pretty bad imo

Because Twin shadows isn't new.... Did you miss the part where it says new/old Item... Twin shadows was taking away and now brought back... And personally Looks fine to me it doesn't need tweek.

Twin Shadows existed back in 2012 and saw a variety of changes. Becoming the popular version that we will see returning in 2014. Twin Shadows was good on somebody like Twisted Fate as he heavily benefited from everything it provided. AP, movement speed, CDR, and a scouting tool that slows.

Not saying he's the only character that could build it but you get the idea.

The item was removed in 2016 when they changed Frostqueen's Claim activated effect from a slowing missile to the twin shadows ghost effect.

Now that Frostqueens no longer has the active they're bringing back Twin Shadows.

They're using the icon it had before it was removed in 5.22 in favor of Frost Queen's Claim, which is now gone.

"New spell binder icon"

You mean... the old icon of the Swindler's Orb?

Honestly I think it looks fine. I mean it's no worse or better than any other icon and I'm pretty sure it looks slightly cleaner than the old one... or it just been awhile sense I've seen it so don't remember