I got a bit curious of the method now, and I found out the following:
How does the method declaration look like? You got four arguments with %col as third and %slot as fourth. When looking at Badspots code, that is indeed correct. But all other Add-Ons I've taken a look at seem to ignore the %col and just put %slot as third. I did some small traces with default Add-Ons and apparently on both onMount and onUnMount it gives a 0 on the third argument. I assume that if we're using the %slot it will use the second argument %obj to get the mounted object with %obj.getMountedImage(%slot) and then get the datablock on that one.
Of course, I'm only speculating about how it really works, but I got no idea why you even would want to have a %col variable, when it might even be an ItemImage, and therefore an %image variable. And %obj is just an Armor, so that could be %player instead.