Strange, not one of the used materials appear on the blade, but a completly different (as far as I can see), do you have an idea what material is that?
Is the blade just one mesh with one material (as it seem to me, because at links to object is 1 mat of 1 displayed), or is the whole sword one mesh?
If this is the case, there might be some trouble with the Material applied to the blade (lets say not the node material is applied there but some other of the handle or somewht)
The blade is one mesh with one texture. Everything that is not red is a separate mesh.
I also found out that if I click the node button in the material menu the color changes to red. So I think blender is using that material instead and not realizing that its supposed to be a node material.
Have you activated the nodes, in at least one of the materials of the blade (At least at your pic it is, but just asking to make sure it is all right )?
Try removing the connection to the wrong material.