If I'm reading that correctly, it seems that the update to Thaumcraft 4.1 changed something about one of the wand caps in your inventory/hotbar, which is now an invalid object.
Back up your world before you do the following
The fix requires some NBT editing. You'll need to open your player.dat and level.dat and delete the wand caps (and possibly the wand pouch?) from your inventory. You have to edit both because your inventory is mirrored in both files for redundancy. Then hopefully you will be able to load up your world. Then you should be able to use NEI to spawn back all the items you had to delete.