Board Thread:Speculation House/@comment-13616152-20130730223309/@comment-4830106-20130731190259

Just want to say I will hold on to my Smoke theory until it's disproved (or confirmed) by RT.

Otherwise, I really don't have a solid theory for what Dust is, or how it does what it does.

It says on the page that Dust may be used to power magical spells, so I think in that capacity it is similar to mana. The caster learns all  the spells, and the different dust types are used for different effect.

As for weapons, my best guess is that Dust weapons work along the same lines as enchanted weapons do in Elder Scrolls.

And with mixing dust, it either renders it inert, or something really, really bad happens.