
Ya, this is a very old bump, but I think it's worthy of some discussion.
I'm starting to think some of these unknown weapon bits "change" the frequency of the damage distribution. Rather than having an equal chance of targeting any character, it is skewed in some way.
I personally need to test this (although, it would be better if someone found code or find no reference of such code to verify this). Some of the bits are for the Axes.. probably as a "Giant" perfume or something (I can't think of a better word at the moment). Also, Cid's Hammers and the Lightning Arrows apply a similar formula. It may be harder to determine w/o having Cid (since, there are some hints that Cid would come back for the Giant event). I think he would be attracting every machine in an attempt to kick his ass (since, his weapon is designed to smash them).
That is the only logical thing I could come up with. I initially thought it would boost damage in the form of critical hits, but it might just be more obvious that it changes monster targeting... it's hard to test this theory out given some bit changing issues.
Let me know what you guys think.

I do not believe it affects the randomness of magic targeting....