I think to simplify all of the items out there with having spell effects, they just made it so it requires components. Procs like Anger or Time Snap are much easier to implement, though.
You're right about the ring.
Here it is on
Lucy and here it is on
13th Floor.
Now I'm confused as well, hehe. I think it's better to just have the items require components for now, unless there's a way to work your way around it. But that would require resubmitting all of the items on 13th floor again. But then again, there are some spells that do levitate without components like Levitation (Shaman). Maybe we can just have it work that way? Uber weapons should require components. I found some people exploiting this and it gets on my nerves. They should be able to afford the components anyway at that level.
But what would happen if one were to proc with a weapon that needs components and you don't have any? Would the rest of their spells "grey out" like they do when you cast a spell without the required component? Can it be a passive "you do not have the required components" message? On retail, you would get that message with the component in parenthesis.
"You do not have the required components for this spell (Bloodstone)." Did they change that?
This is getting pretty interesting.