I was confused with the angreal too, if not in regards to the sex of the acrobat. I remembered in FoH, right before Moiraine attacks Lanfear, where she thinks something like (and I'm paraphrasing here): "Lanfear kept turning the angreal over in her hands. Moiraine did not like that carved circle of ivory. At first glance it appeared to be an acrobat bending backwards clutching his own ankles. Closer inspection showed that his hands were actually bound to his ankles".

I wonder why she kept it after leaving the Tower of Ghenjei, since it's being hinted at here that the thing is pretty nasty. But maybe her reaction is because of something she saw in one of the Finn realms? Perhaps she connected the bracelet to the information she was given on her fate from the Finns? I suppose I'd hate the thing too, if I knew it would be strapped onto me so that those bastards could get more pleasure out of sucking out what is more or less my soul.

But all the angreal we've seen the Light use have been pretty friendly-looking. You've got peaceful women draped in hair, pretty cloud bowls, Robert Jordan: the ultimate librarian, a nice little music box, a white rod, and all sorts of other jolly ones. This one seems pretty weird and creepy.