I've never seen it either. It looks like a Spectator version of the 11127, the only difference I can see is the creed and the direction of the striped lining on the bottom. It looks and "feels" genuine to me.
I'm surprised there's no serial number though, since the Italian plant was apparently still making limited-production bags with the new style longer numbers until around 2009. I can understand not using the regular gold-stamped creed from the other Legacy Shoulder Bags since
Coach probably didn't think it was worth making one for that plant for what was probably a one-off. And thinking back to the Dakotas and Sheridans, I can almost understand why the Italians decided that serial numbers weren't important.