The negative Armor debuff from the Eye of the Storm (Razor) does not carry on after reincarnation with Aegis of Immortal or the skill Reincarnation (Skeleton King). It should.
No issues with actual Death.

Reproduction Steps:
  1. Grab a Razor with Eye of the Storm
  2. Create an enemy Skeleton King with Reincarnation
  3. Reduce the enemy Skeleton King's armor with the Eye of the Storm
  4. Kill the Skeleton King

Current Result:

Negative armor debuff is gone after reincarnation.

Expected Result:

Negative armor debuff should be preserved after reincarnation.
Actual Death is removing the Eye of the Storm debuff, which is alright.

Aegis'd death is not the same with a regular death.