I began a new game and decided to use it on my paladin since he started with it in his inventory. For some reason, I don't see "learning" listed anywhere in the character's skills window.
*Argh, forget it. So it seems that this book doesn't teach the skill at all. It only teaches another spirit magic spell. God, that is confusing.
Are you playing Might and Magic VI?
Books of learning only deal with spells there, same with the other 3DO games. Skills such as learning must be learned at guilds in MM6 (I forget who teaches them in the others, as I don't use the skill)