To use the glove's power, press and release the right trackpad with your thumb, then position your right arm to throw it. As you move your arm forward, press the right trigger to release it. The earlier the release, the higher the arc of the throw.
To use the bow's power, first load the arrow onto the bow, then press the left trigger on the bow hand to activate it.
If you are left-handed, the above directions are reversed.
You can view and change your character's equipment back in the keep (the tall tower). Look to your left and you should see your in-game avatar. Hover your hand over the arrow, glove, chest plate, and bow to see the current equipment and it's power. If there are alternate equipment options, a left and right arrow will appear beneath the item description.
If you have enchanted equipment, you can reforge it to get a new random effect. The forge is located on the right side of the keep. It cost "motes" to reforge equipement, and the amount available can be viewed to the left, near the avatar.
A good strategy is to have one person stay near the gate and defend, while the other move forward in order to close the next gate. When the gate in front closes, the person staying behind will be teleported forward.
To team locally, one player will need to create a private game. The other player can then click "Join" in the friends list. The blue VR machine is called "ERCdata," while the red VR machine is called "VR."