SykoCaster, I think that's what the OP was referring to, as far as using orbs to lower/raise certain values of the rings such as stamina consumption, damage, and AOE.
I think that the OP is on the right track with this. From what I understand, it goes like this:
Purple orbs (basic) can be used to level any stats on a ring, but not all of them in one go.
Yellow orbs affect, say, only stamina, but more considerably than a purple orb might.
Red orbs affect the amount of damage (inc. healing rings) dealt by a single ring more considerably than a purple orb.
Blue orbs affect only the Area of Effect of a ring, but again more substantially than purple orbs would.
Green orbs could lessen the recharge time of a ring more effectively than a purple orb.
And, say, a white orb would level up all stats (AoE, Damage, Recharge Time, Stamina Consumption) of a single given ring.
I think I switched the colors around, but I'm just trying to clarify the underlying point. To me, it seems like a good idea, but it also seems like it would be a lot of work on the game-builders' parts. That would require "splitting" the rings into parts and creating new orbs/effects. Also, it would have to have a cap on it, otherwise there would be nigh-invincible players running around. zOMG only goes up to a CL10, so there isn't really a lot of room to customize without making the game even easier to beat than it already is.