I have some wands with very high cooldowns configured. They do not use any mana, as they are a single use spell with a 3-5 minute cooldown. However for the life of me, I cannot figure out how to output in chat or action bar when a cooldown has lapsed and the spell is ready to be used again.

I don't there is a way to do that, unfortunately. I'll keep this open as a feature request but it's kind of a challenge honestly, it's not how cooldowns work. There is no task or timer constantly checking all of your spells to see if a cooldown is up- it only checks when you try to cast a spell.

Okay, thanks for the consideration in any case!

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Side question; is there any way to have custom lore & auto-generate descriptions on a wand? I tried using some variables like $description but it didn't seem to do anything. Specifically, I'm trying to have a wand with lore describing the spells on it (left/right click) while retaining info such as cooldown, range, warmup, etc. Even moreso, when a wand has 2 different spells included on it for different primary and alternate use, it no longer includes this information even if they retain the same cooldown and range.

You could try using the Chat Action to send a msg after a certain delay. This can be done by having the delay action, then the chat action and having the cooldown set to 0. I would prefer to create a second move which has the delay and the chat action and use the Cast Action to cast that spell.

The custom lore thing should be possible, yes.

Something like this?

customlore:
  inherit: wand
  lore:
  - This wand has
  - completely
  - custom
  - lore
  - $owner
  - You can add variables like so
  - $description
  - $spells
  - $brushes
  - $mana_regeneration
  - $path
  - $mana_max

I'm going to close this just due to the original request being very difficult to implement given the way that cooldowns work.