Might not be patch related at all.
Was not able to replicate your problem but have not seen this one before; sometimes events conflict with each other and produce unexpected results. WW1G will do odd thing at times but your issue does not appear to be a graphics anomaly so once you are more familiar with the game you can edit the save files to correct these sorts of errors.
Believe it or not, they are exceptional but have seen other event errors when Italy is a Central Power.
If you are not comfortable editing game files (after saving the original someplace safe), replaying the turn might be a cure although this may be a bit drastic particularly if all else went well last time.
Sorry cannot be of more help.