I thought I'd explored it thoroughly when I went there and there was nothing all that interesting about it.
Are you talking about Arcane Tower? O_o
Nothing interesting there? O_o
You certainly find some sweet magical loot (super bless staff for casters, free slowfall boots, light ring, and superstrong polearm that can stun wielder "unless is a construct" ... i wonder what that could mean, maybe we get some mechanical companion?) ...
Also there is one quest leading directly into this tower, that unlocks second Tadpole power ... AoE knockback with center on you, also dealing Force damage (im not sure about the damage tho, maybe i remember it wrong)!
Few hints about things around the Underdark ... like that grave, or Bulette.

And heartbreaking story about very lonely cleric.