What does each enchantment do and how much effect does it have?
Attack -> Your weapon has more damage
Countdown -> Countdowns are a little bit faster
Life -> Your HP increases each time you attack
Do you lose the enchantments when you acquire a new weapon (and have to start over)?
When you acquire your new weapon, your enchantment won't be lost
Can you put multiple enchantments on the same weapon?
Yes
Each level of attack gives +7 damage
Each level of life gives +2 hp each time you attack enemy
Countdown has one level only (why not try it?)