I had gotten a double tag followed by a polychrome tag, and before the first ante was up I had a polychrome "8 ball" joker in hand. I got to the 3rd ante playing as many rounds and as many 8s as I could maintaining an open space in my consumables, but never once procced that 1 in 4 chance. I picked up "Oops! All 6's" at the start of the fourth ante to improve the odds (to 1 in 2), and made it to the boss blind playing as many 8's again.. I played at least six 8's after getting the "Oops! All 6's" and I had a "Splash" joker to boot, so I was able and did play them every chance that I had, and still not a single activation.
//EDIT//
Please stop leaving comments saying its "bad" luck, read what has already been written in response to the others.
Please leave feedback IF you have had a POLYCHROME 8 BALL joker and you HAVE or HAVE NOT seen it activate at some point since this last update. This would be most helpful.
Thank you, and just to clarify the polychrome on the joker worked fine. The cards function would not activate.
For activation to not have occurred was a 1 in 1250 of a chance.