Arelith

The Spellbound Wands are listed as being a focus for a present number of offensive cantrip spells up to the 3rd Circle.

Notedly logging out and back in or server transitioning while having the wand in your main-hand or off-hand does not save the spell to your Special Abilities radial menu, requiring you to unequip and re-equip the item to make it show up. This doesn't work very well as an item with the ability to dweomercraft the item with stats or a spell slot that relate to a preset spellbook if you need to keep on re-equipping it to make the stored spell available and useable.

Could you test whether this issue occurs on all server transitions, or just transitions to servers your character has/has not been to since their last reset?

It's also possible that a new instance of the spell is granted on server transition. In that case the quickslot would be greyed out, but you'd see a functional version of the spell in your radial menu.