Currently, only a few magical items have any functional effect in the ruleset when equipped by a PC. Those are ones with magical bonuses stored for AC or To Hit. This change would add a list to the item window containing Effects that are applied when the item is equipped.
This list could also have a per Effect option to not auto apply on equip, so triggered effects can also be stored and automated.
This would make items like a: +1 Flaming Sword of Troll slaying that shoots strength draining rays possible to automate.