In the iron work's site there is all you need to do it. You need shadowkeeper to extract .bif files where are the date is stored. next, a little visual basic file is required to proceed with the creation. You just need to clik one time to this one and it will install the VB file. The program to create items and spells is called infinity engine editor I think. Well, something like that. just you will do is to load an item and modify it after that. You can create it without modify but you really need to know all about creation like the color effect etc ..
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Maybe it's because I hate drows more than I hate Humans - Jarlaxle to Entreri