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Crane Wing is giving a bonus to your AC against melee attacks.
It doesn't affect your AC against ranged attacks or spells which target your range touch AC.
Since it's a bonus that applies to some things, but not to others, it's visible as something you can enable or disable, but it isn't applying to everything all of the time so it's not an adjustment to your AC (which is versus everything).
The check box for Lost Bonus, is more a reference for you.
At least that's how I read it.
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