A topic from AEG's L5R CCG Rules forum, copied for Oracle of the Void from a copy of the forum saved in October 2015, so pages it didn't save are missing. Players' names are left out; the rules officials are named. Rulings are as they stood on these dates; later rulings, the rulebooks and the Rules Archive may differ.
A player, 22 January 2012
Player A uses Ring of Fire from his hand, choosing a low-PH, high-Chi personality as the performer and targets player B's high-PH, low-Chi paragon. Player B reacts with Iron Will. Does the Ring of Fire stay in player A's hand, being usable immediately for the additional action granted by Iron Will (since it is face-down and out-of-play)?
Ring of Fire
Battle: Bow this card or discard it from your hand, destroy your performing Personality, and target an enemy Personality with equal or lower Chi: Destroy him.
Iron Will
Reaction: After another player targets your Paragon with a Battle action performed by a Personality with lower Personal Honor: The action's costs are ignored and its effects are negated. That player may take an additional Battle action.
Alex Jones (rules official), 23 January 2012
Player A uses Ring of Fire from his hand, choosing a low-PH, high-Chi personality as the performer and targets player B's high-PH, low-Chi paragon. Player B reacts with Iron Will. Does the Ring of Fire stay in player A's hand, being usable immediately for the additional action granted by Iron Will (since it is face-down and out-of-play)?
Ring of Fire
Battle: Bow this card or discard it from your hand, destroy your performing Personality, and target an enemy Personality with equal or lower Chi: Destroy him.
Iron Will
Reaction: After another player targets your Paragon with a Battle action performed by a Personality with lower Personal Honor: The action's costs are ignored and its effects are negated. That player may take an additional Battle action.
The ability on Ring of Fire may immediately be declared again.
According to Areas of the game, Using non-Strategy abilities from the hand: If, when the action ends, the card is still in the hand, it turns face down again.