Fem, this one is for you. Does the Navy/Marines still use this device?

United States Marine Corps fleet marine force combat operations insignia.
This insignia was used on the ribbons of the american campaign, european african middle eastern,
korean service, vietnam service or armed forces expeditionary medals by navy personnel attached
to fleet marine forces in combat.

Yes, it is also worn on the GWOT-EM, ICM, ACM and FMF ribbon (Navy award).

It is a current device, NAVY ONLY.

References:

SECNAVINST 1650.1G (ch 1, section 2, para 122, subsection 3a)

MARADMIN 218/04, MARADMIN 172/05

MARADMIN 173/05 -see www.usmc.mil for MARADMINS

Wow, it's pretty cool actually. I had never seen one before. Kinda blows that it's a navy only thing.