Indeed the Blessed Iris got it's name from a translation mistake.
The Korean original translation included that mistake, while the item was meant to be 'Bless of Iris'. The translators did not know, that Iris was actually the name of the continent in Last Chaos and also did not know the icon of the item.
While the English translation could be easily adjusted, the other localizations are using totally different words like the German 'Schwertlilie' and players are so familiar with it, that it became impossible to rename.Ģ) The pending NPC Merchant update starts next week! So it was never corrected and will remain a flower in all eternity, since it is one of the most popular items.