I have seen this effect as well, and interestingly enough, it was on a barong blade. I etched the blade a few times, and each time a got a pattern that looked like this, but always in a different way, which was enough to convince that I was not etching properly. My initial reaction when I saw the pictures was the same as Steve's, but I just wanted to see what other members had to say.
Regards,
Teodor
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