Thus Spake Zaranephilpal/AssumptionOfCerementsAndBones
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From the White Wolf Exalted Forum:
If I understood Rebecca correctly when I asked her about this Charm, raksha pretending to be ghosts stack the quality of being a ghost on top of the quality of being raksha. The mask does not replace the core.
Consequently, a raksha with this Charm active could be affected by all the necromantic nastiness an Abyssal could dish out to ghosts, in addition to getting nailed by any anti-Wyld magic the deathknight could muster.