IMHO, because the server isn't providing a prefix for the +a flag (as there is no prefix, +a just means protected and cannot be deopped or kicked), mIRC should treat the flag transparently and give them +o's @ prefix instead.
This is how I remember mIRC handling it when I was +ao Raccoon Raccoon'd on such a server a couple years ago.. I don't know if this behavior has changed though.
So, I'd say Khaled should look into this as being a bug.
- Raccoon