
Taz'Raul |
Memory property states: "This ability can only be placed on metal weapons. The serpent folk use alchemy to transform the physical mass of the weapon into an amorphous blob, a loose chain that can be worn as a belt, or some other innocuous form weighing the same amount as the original weapon. Tapping the weapon sharply with a dull bluish bit of specially forged metal chemically awakens the transformed weapon, which unfurls into its original form. Another touch of the same metal returns the weapon to its disguised form. The trigger itself is typically a short rod some 1–2 inches in length, but could be crafted as part of a brooch or ornament."
So if I'm wielding a weapon that give me the ability to cast a spell or ability x/day, or can be activated to accomplish X EX/SU ability, does it being in it's transformed state prevent me from using those abilities?
Obviously if I've turned my sword into a belt, sash or a decorative chain, it can't function as a sword for the purposes of hitting or being counted as "Armed". But would I still be able to call on it's activatable, non-strike related powers?

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What's the source for this weapon quality? I've never heard of it before.
edit: Found it on d20pfsrd. Is your GM allowing 3rd-party material?
Sandy Petersen’s Cthulhu Mythos, © 2017
To answer the question, I'd say it comes down to "wielding" the transformed weapon. There is language in various books that indicates that a worn magic item is considered "wielded" so I'd say that it would work if you are wearing it. Wouldn't be unreasonable for the GM to require it to take up a magic item slot.

Pizza Lord |
I'm inclined to agree with Belafon here. Unless the weapon's ability indicates that its use or power is somewhat tied to its shape or how it's wielded, it should be okay.
For instance, a memory-metal stalking weapon, could be commanded to observe a target while in the form of a chain belt, but would still have to be a weapon to benefit from the studying. A mace of terror could likely still transform its wearer/wielder into a fearsome visage.
Other things can be more problematic. For instance, a ten-ring sword should technically be able to convey an attached magic ring to its wielder... but when it's an amorphous blob, does it technically still have its shape that has the ring slot to allow the ring to be attached? The ring isn't made from the Memory metal, only the blade. And since its the blade form that allows its function, then probably not for that reason. Even though otherwise it still should have the power to grant an embedded ring's power, the fact that it lost the form that let it hold the ring to do so matters (Unlike a magical polymorph or shape-change effect, there's no indication that items that aren't part of the weapon are infused or absorbed or otherwise become encased or protected when the weapon changes its own form or shape.)
Similarly, I probably wouldn't allow a dwarven thrower (+2 warhammer with returning in the hands of a dwarf and deals extra damage to giants) to utilize those properties if in the form of an amorphous blob, even if thrown by a dwarf.

Azothath |
3rd Party Memory 6000GP... okay, see concealed below.
It implies that it is a mundane transformation. It could shred the abilities if they are connected to the shape (like +1 enhc to hit & dmg when a non-weapon) but it'd keep the Hrd & HP increases as the same material.
I'd agree that wondrous Item like abilities would hold if the item was worn in a magic item body slot so long as they are not tied to using the item (you cant wield a belt like a sword).
There is also the time to pull & wield said item, std actn to 'pull' the (once) weapon? Tap and unfurl sounds like a std action just for the transformation. Honestly it sounds like a std actn(at best) to pull and a full round to stow and that fits with the cost of concealed weapon quality.
To effectively hide a weapon and add a standard action to pulling it for this thematic ability seems unpractical not to mention the bit of gray area.
Weapon qualities: shrinking 1000GP, glammered 4000GP, concealed 7500GP.
Disguise Weapon I:1 and Hide Weapon T:1 are more practical and better defined material. Hidden Blades I:2 if you need invis weapons.