Have been upgraded in the latest patch

If you have no target they operate much like a colored version of the magicians
flare spell - shooting straight outwards as a lightsource until they hit
terrain.
Except for the blue one (can't remember which number), which does a little
circle/spiral. If you have someone targeted when you let them off you see a
message "<Target> lights a firework", though it always explodes around you, in a
shower of sparks, and it makes an explosion type sound.

I /bugged the fact that they still look like they have a charge after you use
them though.

Voriig, Gem Chopper and wannabe Gnome Paladin