I did something similar for a pregenerated character for my Con game I posted
http://www.jimbutcheronline.com/bb/index.php/topic,24161.0.htmlhere. I called the item a Lesser Warden Sword and built it by splitting the item into 2 components: The Blade, which held the Weapon effect, and the Hilt/pommel, which held the Counterspell effect. The character has a Lore of Great +4 and a crafting of Great +4 with a Strength Crafting specialization for thaumaturgy, and spent 2 enchanted item slots on it. The final product looked like this:
Lesser Warden Sword
It might not be Luccio's work, but it's the next best thing.
Weapon: 3
May use the following effects 2 times per game session:
* A strength +5 Counterspell
* Act as a Weapon: 5 for one attack.
My math may be a bit off, but you get the general idea; I'm working from memory as I don't have the character where I am currently. Hope this helps someone else.