Hi GroundEx,
Regardless of what the label says, simply reading the two comics will tell you that Odin does not appear in any way shape or form in Journey Into Mystery #85. He is merely mentioned by Thor when Loki demands his hammer, and an Editor's Note states he’s the ruler of Asgard.
He does appear in spectacular fashion for the first time in JIM #86. Thor summons Odin in order to teach him how to travel into the future. CGC’s team of graders are usually the standard for first appearances cause of how often they get it right, but sadly this is one of the rare times they did not.
I hope they rectify this issue, but I wouldn’t hold my breath.
Good luck with your JIM #86 grade! Great book!