Oh my! You've managed to acquire an item of legend to carry on your adventures. I've long theorized that such items draw their power directly from the titans, and this may prove to be a chance to test such speculation!
It is said that the Nightwell draws power from the Eye of Aman'Thul, and after centuries in close proximity I believe that titan's power now dwells within the inhabitants of the Nighthold. Bring me remnants of this energy, and I will empower your equipment.