But I've noticed another tooltip problem. I don't know if its Tipster or ItemRack.
Try hovering about the items in your CharacterFrame .. there are some slots that doesn't show any tooltips, depending on which speed you move over them.
I have that too, but before I installed ItemRack allready. Doesn't disturb me enough to explore what addon it is ;-)
It's not ace'd, but I think allready better then Wardrobe / Equipmanager - I just switched from Wardrobe & TrinketMenu to ItemRack. I really like it, the interface etc - since 1.4 it has the ability for Itemsets, it's still missing the auto equip (mounted, plaguelands) stuff though. I prefer to switch myself anyway...