Throttle had made a weapon for me as a request, however he does not have oblivion installed and so could not test it properly.
The mesh shows up as a missing mesh no matter what in game, the paths are correct. My only guess is that the mesh itself is to blame and oblivion cannot render it for some reason,
It's been sitting in my data folder for a month almost, not sure how to fix it myself so http://www.sendspace.com/file/hyirab.