New Update

I don't have a lot of time to play TWOM today, so the information below haven't been completely verified. Some of the information I've gathered myself, the other information came from my friends and trusted forum users.

Item System

To use the item crafting system, go the crimsonsabre merchant and buy the books:
       Combine Book 1: 1100
       Combine Book 2: 110,000
       Combine Book 3: 550,000

• Gender Changer: changes gender of the character, make using: 10 pet coins and 20 pirate coins
• 6th cores obtainable from extracting blue items
• 7th cores obtainable from extracting purple items

Sky Castle

Talk to the SkyGateKeeper, above the Crimsonsabre Merchant
You need to give him a Sky Castle Key to get in (which can be bought in bt for 6-7, or made using Combine Book II).

                                                               Entrance to Sky Castle

To move to the next map, walk around until you find a swirling blue portal.

New Pets

Have to admit, the two new pets actually look pretty good.

 
Holy Water and Repairing System

I'm not exactly sure how this works yet, but as users on the forum have pointed out, holy waters are gone, and they have been replaced with a new system that involves buying gemstones and repair scrolls.

Small Guide - Credits to Amaz0ns and DemonMickley from com2us forums

For armor, take your +4 or +5 item and use a non-blessed scroll of the correct enchant class on it

If you fail, the item will have a little "destroyed" text in red underneath the item tittle

This is where Gems and scrolls come in, use your repair scroll of the correct class on the item, it will require a certain number of gems (arm D is 5, arm C is 10, arm A is 200) 

Using the correct repair scroll with the required gems in your inventory will restore weapons randomly to +1-6 enchanted, and armors to +1-4 enchanted

200 Gem stones should be sold for 400-500k. Based on regular conversion ratios, so it will cost about this much to repair an A ranked armor.

"But think of it this way 5 armor (if you buy each 300) A = about 1.5m, if you fail with holy water +4 again is another 1.2m or so

With gems, +4 again is anywhere from 250K-1.15m

To repair A weapon you need to have 400 gems.