Endless fun, especially in a steam punk setting. I can imagine a huckster selling this as a device that grants bodily control over goblins or some such. (Especially if he has a trained goblin or halfling dressed as a goblin to help with the ruse.)
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Another lost gem worth returning to the forefront, (especially in light of the recent quest poll) While not overly detailed, it serves the purpose of "local color" for a magi institution flawlessly, and makes any rather un-noteworthy academy suddenly very memorable,.
A nice variation on the "Pern" theme, and with more adaptability and variety, making it much more exciting to use as a campaign setting over the long term.
I do hope to see this updated and expanded upon someday, despite the many years long pause hiatus it's endured.