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Magic Find doesn't improve your chance to find legendaries, but instead it improves your chance to find magical items instead of normal items, which indirectly also improve your chance to find legendaries but not as much as how "Magic Find" would work in Diablo 2 for instance.
If you want to farm legendaries, a better way is to have a lot of gold find, and then spend them all in the gambler
Farming Lucky dices and then hoping for better drops looks like a good amount of time wasted
EDIT on 9/27/2019: I recently started playing vanilla again, and the transmuter is no longer doing this for me. With 3 lucky dice of the same percent chance, I'm just getting random gems instead of the upgraded die. Don't know why it's now this way - if someone changed something, or if I was playing a mod before and thought I was playing vanilla or what. I'm sad that I can't upgrade dice and coins anymore, and I'm sorry for the apparent bad information I gave in the first paragraph. I can confirm someone else's statement that you are more likely to find dice and coins in the secret rooms of dungeons.