Very cool entry.
I think that the gameplay and mechanics are very good for a game jam project. Except, except there is no way to know all of those spells that quickly. You should at least have a quick reference button during play so you can press it to show what all the spells do at any time. I could understand everything else about the game and still made it through a run, but I had almost no idea what the spells were going to do without just randomly casting them and trying to figure out.
Great job otherwise though; the game plays very well!