Hey Game_Guy, I tested the issue with the script, and what it does is it overwrites the weapon's elemental properties. It doesn't reset that weapon's elements after the ring is reset, and it continues adding Fire, fire, fire until you've got fire to the power of infinity.
It works fine when weapons are unequipped, but once you equip a weapon with the element changing armor, that weapon is permanently labeled a fire weapon (or whatever element you use.)
I can show you all of what i've done if you like, but all I did in your demo was set another armor piece besides the shield to the fire element, and then equipped it. Every time I talked to the guy with the script code for showing what elements the first actor had for his attack, it kept adding those elements, and the window I was reading read, "[1,2,3,4,1,2,3,4,1,2,3,4]" or something like that. It kept adding the elements on somehow.
And unfortunately I couldn't get that script you sent me to work, Jragyn, but that's allright.
I'm just trying to help debug stuff here. I would really like to see this work, it is a freaking awesome idea!
I hope i'm helping at least a little bit...
-Shining Riku-