After attempting to use both an in-client and dedicated server of my own to verify, this appears to be specific to one server I was playing. Odd, considering it is vanilla and uses no plugins. Well, either way this can probably be considered dead. I will attempt to get more information out of the server owner when he is on later. Sorry to waste your time.
If a server is shutdown normally while the user is holding an item (edit: clarification, I mean held by your mouse, not your in-game character), the item held is completely lost rather than thrown on the ground or put back into the users inventory.
I mean if held by mouse click, not held by player.
After attempting to use both an in-client and dedicated server of my own to verify, this appears to be specific to one server I was playing. Odd, considering it is vanilla and uses no plugins. Well, either way this can probably be considered dead. I will attempt to get more information out of the server owner when he is on later. Sorry to waste your time.