My guess is that there was an issue with the site itself after the image was uploaded. I’ve come across an observation in the past with the same “Processing…” image that had been identified by the uploader and confirmed by @loarie (IIRC, it was one of the iNat staff), which I think would only have happened if there was originally a photo to go with it.
I’ve spent the past few minutes trying to find it using Explore and the various filters there without any luck. I’ll post it in this thread if I do manage to find it.