So there are 2 things in this thread:
First is a very nice snap of the horse from corrakkas on the forums, which was obtained using saved up tokens from the previous summer festival. There’s also a cool snap of this horse while drunk 🙂
And confirmation from Sapience that things are broken and they’re looking into it.
Doc Holiday's LOTRO Blog 
Always the horse! why is it always the horse? lol
Who would’ve thought something like a race would cause so many problems 🙂