Saw this on AH today:
Looks like someone put Wizardry I on a ring, then put it on AH. I thought that once you put a shard on craftable anything, it is bound?
The words "Binds to Character on Equip" seem to be a hint. I suspect that just like BtA items remain BtA after crafting, "Binds on Equip" also remains that way. But I never heard of a ring that binds on Equip.