The spell informs you that you are holding an Artificer's monocle. Putting on a monocle is a standard action. While wearing an artificer’s monocle, whenever you successfully use your artificer knowledge class feature (ECS 31) to detect an item’s magical aura or you cast detect magic and have at least 5 ranks of Knowledge (arcana), you can spend 1 additional minute studying the item. If you do, you can identify the abilities of that item as if you had cast identify upon it.