OK, well, all of you have brought up valid points. Here's how I see the situation from a neutral point of view...
This may indeed be an authenticated prop by the same company that provided props for the original series. However, I think that the seller simply didn't know much about the series and therefore got some of the facts screwed up.
I'll have to agree with Jeddie that this prop was definitely never used in the series, which includes any possibilities of CGI effects. This could quite possibly have been made for the series but was never actually used, and therefore for all we know, could be a prototype. And the description that it was designed for the first season is inconsistent with the information I've gathered over the years.
As I understand it, Don Bellisario himself had specific ideas on what he wanted the handlink to be, and that was basically to be "unidentifiable." It went through some changes in the first and second seasons, but the first version's overall design stayed relatively the same. I believe it wasn't until some point later in the series (obviously before or around the third season [forgive me as my memory is a bit hazy]) that Don wanted a different design. So, a few seasons AFTER the "calculator" handlink was used, the crew member in charge of designing the new handlink went through many new ideas before he could settle on something Don wanted. And that came about by being inspired by a bunch of Legos that he saw his daughter playing with. In conclusion, the "gummi bear" design was never conceived before the beginning of the series, or else I'm sure its design would have been the one used all along. In fact, even the "calculator" handlink was still in its infancy design-wise, even after the show premiered (see "Genesis").
The bottom line here is that we have a seller with an excellent feedback rating who cannot be proven to be a fraud. But, there is no question that the some of the facts stated in the bid are incorrect. There is also no question that this particular prop was never screen used (at least in my opinion). Even the gummi bear handlink went through a few changes on screen (in some episodes like "The Great Spontini" its design is slightly different), but never anything like the prop in question. The fact that some of the information is, in my opinion, incorrect, turns it into a matter of possibly misrepresenting the item. This could create a big problem because any potential buyers might think they are getting something other than what they're paying for. I think the seller definitely needs to make the item's description clearer.