OK, i read the guides and announcements but i must be missing something or too noob...

I finally purchased the green set. I equipped it and have the green dragon pet. No bonus.

From the handy guide, it seems you can craft it into regular vanities and stash the bonus across characters but i did that and i still get no bonus. I get the cool smoke effect, etc. but not bonus at all.

Is the requirement now that it HAS to be forged into a ring to get the bonus? I thought the set was enough to wear on top as non-sellable vanities.

Some helpful advice for a dragon set noob would be much appreciated!