I did notice that the epic chest armour had 2 slots in it one of which was a purple enchantment slot, while the second was either a green red or yellow. So perhaps the purple slot is for the effect enchantment.
I can confirm that rank 3 can come from random drops as I had several enough to fuse one level 4 enchantment. By the end of the beta weekend I would have had at least 60 to 70 enchants all drops and many of them fused to upgrade. One other thing I did note on several occations was the same type of enchant dropping off the…
Oozes slimes and jellies, shambling mounds and jelatinous cubes. Oh such fond memories wonder if any will make it in. Makes me want to go and dig out all of my old books.