Do they work? By the look of the graphic, they don't. If so, what do all the damn things do? I don't have any of my DnD books anymore to tell me. And, correct me if I'm wrong, but shouldn't you be able to equip more than one? I want a cool spinny thing around my character!
I'm not exactly sure what they do in TOEE, but I do know that in BG2 they are something a character wears on thier head, like a helm... I'm simply saying this because I know that both TOEE and BG2 are designed on the D&D Rules. I myself haven't played TOEE, as I'm waiting for it to come down in price be4 purchasing it.
They work and they add a +2 bonus to one of your character ability scores depending on the color. So far I haven't found the effect of the deep red one.