It's not a cheat; it's just the way this Elephant moves. There's no law saying every piece's moves have to have the full symmetry of the board.
In fact this Elephant is very interesting, because the Elephant is colorbound on one coloring of the board, while the Knight is colorchanging on another coloring. It should be fun to watch them interact. (Reminds me a bit of Alice Chess, where the Bishop and Knight are both colorbound, but on different colorings.)