The Magnificence is nothing less than a complete database and map of the known universe, and every exploitable resource within it. This coveted artifact is the ultimate Magic 8-Ball; any question posed to it will be granted an immediate and accurate answer. Just how this works remains a bit of a mystery.
IDW comics continuity
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The Magnificence once resided on the ruins of the Omega Bunker on the silicon steppes of the world of Ki-Aleta. While within the bunker, it was kept safe by the fearsome Omega Guardians, but apparently not safe enough. The Guardians, the bunker, and the artifact itself were built by an unknown ancient race.
A team of Autobots led by Hot Rod sought out the Magnificence to keep it out of Decepticon hands. The team managed to decoy the Omega Guardians successfully with holograms and automated gun systems. However, sabotage from the Autobot known as Dealer led to the decoy system failing and the majority of the team being slaughtered by the Guardians. Dealer was unable to procure the Magnificence, though, as Hot Rod made good his escape and hid the artifact in parts unknown.
After extended urging from Dealer, Hot Rod sought out the Magnificence from where he had hidden it. This turned out to be Ki-Aleta, much to Dealer's surprise. High atop a rock formation surrounded by ionized clouds, it was inaccessible to mechanical life forms save by making the treacherous climb up the rock face itself. Upon retrieving it, Hot Rod demonstrated that it was not only a chronicle of old information, but new information as well. Using it to reveal Dealer's treachery, he then queried it as to the details of the Expansion.