ok did some searching on this item just found out this item is used in a 2 quests
u can find the quest by looking up the CT zone on this site in the quests area
1.) ok the first part u gather some random items which all are found in CT and u can get the items u need to combine in this in the questa area once u combine all 4 items in the alter u can turn it in to 2 Npcs the Npc in CT will spawn a named mob named A Horror Construct guessing it is 1 bad **** lvl 63 high hits ect but he drops some nice loots
2.) or u can turn it into a Npc in frerrot his name is given in the quests area and get a nice dropable FT3 neck item lvl rec of 51
There was or is a Thread about it at Safehouse Back Ally. Its kind of part of a ringwar. There are 4 pieces to combine in the altar and the combined result must be given to the "a living void" which is at top of the Archon pyramide (green to 60, millions of HP..we stoped beating it after 5 min and it didnt lost much HP). What happens after you gave it to it, noone knows right now.
What is it with Verant and spelling anyway, alter is a verb that means to change... I can only assume they meant "altar" maybe I can get a job as EQ's spellchecker ;)