Yep, this is exactly how it works. After using the SoE, inventory screen
opens up and you have to chose an item. If its a valid item, scrollng
down thru its description will reveal a "select" option.
Usually the message display should read something like:
"You remove the foo
The foo starts to glow! [or Nothing happens]
Stat A changed from W to X
Stat B changed from Y to Z
(...)
It s you! Target? (this line shouldn't appear, to be fixed)
You equip the [might be different prefix] foo"
If you can't see those messages, or only got the last line, check the
Message history in Menu. Or use the option called "Show <more> promts"
in Settings menu so that message display will wait for a key press every
time its full.