A few minutes ago, I was mining with a Spring Pickaxe on the new carrot and I accidentally dropped it. As soon as I dropped it, I couldn't actually find it on the ground and I immediately relogged. After coming back and not being able to find the pick (and other block items still remained on the ground), I took several screenshots of the ground and a conversation I had with Korodecim about what exactly happened. In addition, I had dropped the pick a few days ago and relogged when I couldn't see it and it appeared for me. This most recent time it simply didn't show up again. I don't know if this is a bug or network issue but I wouldn't want to lose a Spring Pickaxe over a bug.
I have another screenshot of a conversation with Korodecim but it outlines the situation I explained above. It doesn't seem like I can insert it because the last few times it won't let me post a reply with an image due to the large file size even after trimming up the image.