Erebrandir's Horseshoe - What is it good for?

[Sapience]

As promised, the full text of the message regarding Erebrandir's horseshoe...

It’s time to pull the veil back just a bit on the mysterious Erebrandir's horseshoe and what it does.

For starters, it does do something. Some may think it doesn’t, but it does! In fact, it does more now than when it was first introduced. This is why we’ve kept its effects a closely guarded secret. As time goes on, it grows more powerful! So when should you be using it? Some portions of the Epic story and certain festival events benefit from having this lucky horseshoe. In fact, the winter festival would be a good time to dust it off!