Something to consider is that in the same way that a high refresh refund on the catch signifies to your GM that you're ok with it being discovered and used, a high refresh refund on the item of power (with that caveat) would signify that you're willing to lose it on occasion.
I finally looked over the second character and I realized that cloak of shadows and breath weapon could be handled (minus the darkvision) by evocation if you wanted a little more flexibility, though I know the character is for someone new to the system so it does make some sense if you wanted to leave it.