IIRC the star represents magic, as in what Spekkio grants you. That's why Robo doesn't get any in the game, because he says the lasers aren't magic even though they have an element and use the right stat.
Maybe as an optional addon though? I don't see it crashing into names all that much, but I'll have to check.
But then Spekkio goes on to say that laser causes Shadow damage, but no star? Technically every tech can be viewed as magic, they all require MP.
I'm almost 100% positive the stars are meant to show elemental damage and are just horribly implemented. Look how some status/cures have stars and others don't? There is literally no pattern to the stars currently. I think you have an opportunity to greatly improve the move menu. I've read from multiple sources the stars are for elemental damage attacks but just arent used right.
Wind Slash is a tough one, its an elemental attack you're right, but causes physical damage. The stars are for elemental damage.
Ok I see where you guys are coming from, you're saying the stars are for spells only, and have nothing to do with the elements themselves, I can see your point. If this is the case though, the stars are still all wrong, Marle's Aura and Provoke should both have stars then but don't. Frog's Slurp should have a star then but it doesn't. I just feel the stars showing elemental damage instead is of much greater use then currently showing that it's a spell, which doesn't serve much use at all.
So currently even if the stars are only to show "magic spells" they are still wrong and are missing a bunch. With the stars meaning elemental damage they become useful to gameplay. One of the main things about this game is needing to know what type of element a enemy is weak to (by what character you have selected) and what tec will cause damage with said element. Stars showing elemental damage clearly show the player what attacks from that character will be useful against the enemy. It makes the most sense in my head and also is useful for the majority of players.
The more you think about it my way, the more it will make sense to you I think. Especially when if you still want it to show magic spells only, its wrong and missing a bunch currently, so right now it serves zero function. Switching it to all elemental damage attacks seems like the clear choice once you realize it's wrong and needs correcting anyways.