The absorb damage actually means you're occassionally healed when taking physical damage :D (why the hell did someone rate this down last time? Haha...)
Notice that the armor occasionally ABSORBS damage. It does not annull it as the Shadow Ring and Shadow Mantle say. Here's to hoping that means what we all hope it does. ( o.o)b
Excellent piece for Geirskogul given its AGI mod and benefit from increased attack. Also a good piece for Drakesbane since STR, DEX, Attack, and Double Attack all are a boon, though it's yet to be seen whether DEX+1 Attack+4.25 Double Attack+2% overwhelms STR+5 from Hecatomb Cap.