The Loot Ball is a black ball that appears after using Equivalent Exchange's Nova Catalyst, Nova Cataclysm, Destruction Catalyst, Catalytic Lens or any of the special destruction powers of the Dark Matter and Red Matter Tools. It will comprise of all the material caught within the item's range. When using these items, the Loot Ball generally drops near the player. In order to pick up any item from the loot ball, one must first have at least one free slot in their inventory.
The purpose of this visual element is to prevent client-sided lag by compacting everything into one entity.
It is possible to pick up a Loot Ball item by placing an Obsidian Pipe next to it pumping into a Chest, or it can sometimes be absorbed by an Alchemical Chest containing a Black Hole Band. The Loot Ball just acts as a handheld item that can be charged/uncharged from full to empty at once, but has no other purpose.