Following the advice of this question, I created the \itsep symbol:
\newcommand{\itsep}{\mathop{\scalebox{1.5}{\raisebox{-0.2ex}{$\circledast$}}}}
When used with single character sub/super-scripts, it displays properly, like this:
a \itsep^f_{g} b

If I place multiple characters in the sub-script the symbol behaves incorrectly:
a \itsep^f_{g \, a \, b} b

Is there a way to make this symbol truly behave like \sum or \bigwedge where the "big" symbol is centered over the subscript and centered under the superscript?

