Summary:
You learn a design called "Brilliant Glass" from a master jewelcrafter just like any other recipe, it's not a pattern that you buy.
Once every 23 hours, you can transmute 3 of each raw Tier I gem (18 gems total) into 1 random Tier II gem. I have transmuted 1 Talasite, 1 Star of Elune, and 1 Noble Topaz so far. All-in-all, you end up making money. Talasite will lose you money, but Noble Topaz or Living Ruby will tripple or even quadrouple your investment. ESPECIALLY if you are able to cut the gem into something useful as well which will usually net you at least 10g more than a raw gem.
I'm happy with it, but I would have liked a 12 hour cooldown.
On another note... Adamantite Ore is NOWHERE to be found now. Every now and then there's a dozen stacks listed at an OUTRAGEOUS price like 24g/stack on two of my servers but the nice 20g stacks are nowhere to be found anymore. When the gem market starts to reflect this and prices go up as stock starts selling out I won't mind as much, but right now there's only opportunity to lose money. Brilliant Glass helps to alleviate this.
Edited, Mar 28th 2008 6:11pm by Losie