Talk to the guy in Torchlight that enchants your items for you. Select which item you want to enchant and press A, if it was a successful enchantment press Start and exit to title. this will auto save your game for you, after that continue your game and enchant your item again. If nothing happens or you lose all your enchantments, press the Xbox button on your controller and press Y to go to your Xbox dashboard. The game will not save and you will start the game from your save after the last successful enchantment. Always exit to title after each good enchantment and you can enchant your items without fail.