Here's the latest developer diary for Two Worlds II which semi-apologies for the issues with the first game in the first few minutes. From there Creative Director Scott Cromie dives into all the enhancements and things you'll be able to do in the game including creating custom equipment and custom spells.
I have to admit I'm intrigued but a lot of the stuff they are showing off as the ability to create custom spells sounds like a cool feature. Of course the real question now is how they will deliver on that. We'll find out at the end of the month when the game hits store shelves.