So I had a couple ideas on how item slots could be improved.
Add An Extra Equip Elixir to the Crown Shop - This Elixir would cost 5,000 Crowns could get be bought once per pirate. This elixir would allow your pirate to either equip an second charm, and second ring, or a second totem.
Add Companion Backpacks - This would make our companions way more useful. I think each companion should have backpack with 4 spaces in it. I am suggesting 4 because our companions probably have stuff of their own they carry and I think 4 spaces would fit into a drop down menu. If companions were busy on a task you wouldn't have access to the 4 items in their backpack, so these slots would best be used for pets that you were simultaneously training! If you had 1 full page of 16 companions you would have 64 extra backpack slots if my idea was implemented, if you had 2 full pages of 32 companions you would have 128 extra backpack spaces.
Watch me stop playing if players can buy with money an equipment slot that allows them to use something like an extra charm. That was the main reason I stopped playing Wizard101, all the pay for the best equipment rather than farm for it. An extra piece of equipment obtained from buying a potion unbalances the characters in the game, and I'll be playing something else instead.