If you guys read the description for Phoenix Up, it tells you to "use" the item repeatedly to make it into something, idk if it works.
It does! You have to click the "use item" button a LOT though, I think one person said around 50 times. I can't remember how many times I clicked mine. The problem is though, some people are getting glitches saying the item doesn't exist. Gaia has fixed most of the items, but there are still some left that glitch.
I'm going to laugh most when the item turns out to be something awesome and all of the pissy people out there complaining about how HORRIBLE this years items are SOLD theirs in the marketplace for 2gold XD