Sweet, now this gives me a reason to start running heroics/LFR on my paladin alt!
Hopefully you can transfer it with the upgrades intact...
---------- Post added 2012-11-28 at 02:22 AM ----------
I can confirm that you can upgrade things like this on an alt and send it to other characters. I upgraded the Arch Umbrella tonight with JP I had left over on my rogue and sent the upgraded Umbrella to my priest with the upgrade intact.