845a8e7d_ption___MuOnline_Pentium_Tools__Why_to_edit_
[File Location] \Data\Local\ [File Name] Item.bmd [Description] Names and configuration of items in the game. [Why to edit?] 
Translation or adding new items. You also can edit item.txt in your server(usually in server data folder) and then import it to your clients item.bmd - that both server and client files will match. If you decide to edit item.bmd and export to server side item.txt - then you should follow guide of special export using missing values editors - because in item.bmd is not enough information for creating server side item.txt
MuOnline Files Description - MuOnline Pentium Tools
Why to edit?