IS Equipment= Champion gains a magic attack at 1-3 range and cost +1 ap. When equipped on a champion, it does not allow you to target enemy champs for the magic attack. It shows that you have the attack but you can't use it.
I tried it the daily campaign and single. I tried it on an IS champ and a SP one. The reason I started the post cause someone else in game said they were having a problem with it and it reminded me.
Same thing happened. On equip it does give an Magic atk +1 ap but it doesn't have any target box to hit enemy champions encountered this in single player daily.
According to our bug tracker this was supposed to have been fixed awhile back, but clearly something else went wrong with it or it wasn't fixed properly. Confirmed.
