Found her in the northern most room of the keep. She stands (swims?) in the corner of the room next to the hole in the wall that leads to the seahorse cave. Her place Holders are Gloomwater Mermaids. The re-spawn time is 15 minutes. She spawned for me after only four cycles.
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Maulis Thefool, Ranger of the 86th season on Firiona Vie...
well I guess I was experiencing a rare bit of luck getting her to spawn in only an hour. I have now spent a lot more time here and have not seen her again.
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Maulis Thefool, Ranger of the 86th season on Firiona Vie...
She, like Cauldronbubble, drops a Sharkbone Warhammer as her common drop. She spawns in the single mermaid spawn just outside the seahorse caves, in Undertow's room.