A one-time thing like only one could get one total in game? Or a one-time use item with the possibility (not sure how remote or expensive) of getting another down the road?
Option one is great if you have top of the line boots, but option two means you might be inclined to upgrade your 500 boots, 750 boots, etc. Option two could also be a cash/gold sink depending on how it is implemented.
Here's the thing. If it is as per the OP, they are boots. Like any other boots in the game. Maybe drops or buy in a shop, whatever.
But if it is something like my second post; an "Enhancement" - I suppose it could be applied to "any item" and each character could only ever buy 1. Just like the extra backpack.
So I enhance a pair of 500 boots. At 750 I sell the boots, they are still enhanced when I sell them.
But "I" cannot enhance any other item in the game - ever!
Now that is getting away from my main idea: GOLGREN Boots of Mass Destruction.
Agree with Leone that it's a neat idea. Two parts for that too:
If, as the OP suggests, it would be a piece of new gear, then why not go with it? Lots of gear is named after players, so no reason not to do that. Why not honor someone who has been a big part of the game, along with a wink and nod towards the forum? I know GOLGREN has already been built into the storyline though, so no idea if that lowers the possibility of something like that happening.
The second suggestion is a bit more general, but I think would be an easier option as well. I know "enhancement options" have been floated before, but usually like spells or potions for in-game use as I recall. Something like a non-stackable strength potion that provides an hour of 10% boost to strength (with or without an impact on PvP) or something like that is neat. The option to do that with gear (just boots?) permanently, not as a limited boost, is another avenue to explore. It wouldn't quite be like adding a +1 how that works right now in the game, but something else. (Maybe you can't enhance +1 or +2 gear as it essentially already is, assuming LK's idea would be for more than just boors.)