As a general broad overview it looks alright but needs some things hammered out clearly before I can say if its good, and a few things need to be considered for revision.
The way I see it there are a couple of must haves for the system
1. The ability to generate all the standard effects available on lootgen. Not all, but all the basics.
As a part of that make sure cannith crafting has a few unique effects too.
2. The ability to generate those to a sufficient level (for stat/ins stat that means at the very least 14/6)
3. Take a lot to level up. I know ive put a lot of work into leveling my crafting to cap and so far there has been precious little reward, its fine to raise the level cap but please oh please do not make it so everyone can be churning out max level things with little investment. Don't get rid of the xp curve.
4. The concept of flexible shards must remain in place in some form. Yeah I get it named items are off slot, but that has always been the biggest draw of cannith crafting, the ability to fit it around my named items or super duper 1 in 1 trillion piece of loot gen.
Some suggestions
1. Ok so i like the idea behind the cannith marks for 3rd effect, great, I mean sure every item will have 3 effects but then cannith crafting has to have some reason to use over loot gen. But how about the other marks (yugo and silver flame)? Any cool plans for those? Like augment slot addition or masterful craftsmanship?
2. Go with 3 schools, mix n match essences from schools in recipies to make them more interesting and unique. Use collectibles, mystical ____ components and purified dragonshard fragments as rare components for either powerful effects or for making a high level item.
On that note, Please increase the stacking of essences, ive already got dozens of inventory slots and several overflowing bags of essences when there are 24 of them, let alone 3 or 1.
3. Make crafting levels tied to account, not character. There's nothing worse than spending an hour logging back and forth between crafter and recipient because the game crashes every time you swap characters. Well ok the lag is a lot worse but you get the picture.
4. Make cannith crafted items bta. I outgrow an item on a char and i just have to decon it and make it on the next char, much simpler to just pass it along.
5. Make the power of the item scale with the level of the character who is currently equipping it. Sure it might get some +0 values at lower levels for certain effects but who cares. Tech might be hard for this 1 but it would be neat.
6. Augment crafting?
7. I'm on the fence with the possibility of clicky crafting. On the one hand its awesome and i would use it a ton, on the other hand any clicky you make craftable will have about a 100% uptime on a crafter and all their friends. Unless crafting them requires rare and/or expensive mats - possible use for existing mystical ______ crafting items. 6 currently exist, with 1 for each clicky for 6, or using them in combinations, or both for rarer and rarer. Eg. common clicky = 1 type of mystical ______, rare clicky = 2 types of mystical _____ and very rare = 3 types of mystical _______.
8. Can we get rid of using Locus of Vol as a crafting mat, get rid of using any item besides blanks as crafting mats.
9. Ammo crafting, make stacks of at least 500, preferably 1k. I've never crafted ammo or looked at it so i dunno what is available atm, but make sure its good and useful.
10. If we are getting rid of the skill/ stat +X, Y and Z and just having +B, then make sure that it is still possible to level crafting, but as above, don't make it too easy.
How about a system that gives moderate investment a return that is lower than lootgen values on items without flexible style capabilites, with high investment giving some flexibleness to shards and increasing the values to be either 1 value step below max loot gen, or equivalent to it.
Use the remaining 2 marks to add Masterful craftsmanship and an augment slot appropriate to the item (to a max of 1 slot on the item total)
What slot should clickys go in? 3rd bonus slot, preix, suffix or a unique clicky slot?
It occurs to me the LGS crafting window could work here as the template for cannith crafting.