I believe there is something wrong with the inventory/vault expansion quest drop rates because I've been searching for Ancient Statue for more than 8 hours of gametime already on Death Knights and cannot find any ancient statues. Is this a bug or is it intentionally left like this?
There is nothing wrong with it, drop rates for inventory/vault expansion quest items are default like everywhere else and they do work correctly, infact someone even told you in-game not long ago that it took him about 2 hours to find it so depending on your luck it could take less or more to find it as well. Make sure to add the correct name inside the MUHelper, such as "Statue" and keep on trying, you'll get it eventually.