To fix the equipped texture only displaying the icon over top of your pawn simply add this <wornGraphicData>
<renderUtilityAsPack>false</renderUtilityAsPack>
<east>
<offset>(-0.35,-0.05)</offset>
<thin><offset>(0.05,0)</offset></thin>
<hulk><offset>(-0.1,0)</offset></hulk>
<fat><offset>(-0.15,0)</offset></fat>
</east>
<west>
<offset>(0.35,-0.05)</offset>
<thin><offset>(-0.05,0)</offset></thin>
<hulk><offset>(0.1,0)</offset></hulk>
<fat><offset>(0.15,0)</offset></fat>
</west>
<male> <scale>(0.75,0.75)</scale></male>
<female><scale>(0.75,0.75)</scale></female>
<thin> <scale>(0.7,0.7)</scale></thin>
<hulk> <scale>(0.9,0.9)</scale></hulk>
<fat> <scale>(0.9,0.9)</scale></fat>

</wornGraphicData>
under
<wornGraphicPath>things/items/tools/ADVToolbelt</wornGraphicPath>
and
<wornGraphicPath>things/items/tools/Toolbelt</wornGraphicPath>
in \1.1\Defs\ThingDefs\ThingDefs_Tools_Industrial.xml
this was a very quick and dirty fix not sure if it will have any kind of issue but i basically ripped that code straight from the jump packs ha