The list of spells is not a100% complete as i don't know if i missed a spell in my playtrough.
If you know more than i know, please add a comment and let's make this a better guide. Also if you notices anything interesting about spell mechanics that others should know, share that too.

Infernal Orb of the Xegnian Summoner
Use: Fires a flaming fireball that deals damage to a single target.
Cooldown: 3 seconds.

• Level 1: Casues 8 damage to target.
  
• Level 2: Improved speed. Causes 16 damage to target.
  
• Level 3: Improved speed. Causes 24 damage to target.
  
• Level 4: Improved speed. Causes 32 damage to target.
  
• Level 5: Improved speed. Causes 40 damage to target.

Slimey Orb of the Elder Horrors
Use: Fires a ball of putrecent slime that damages and slows enemies. Can stack up 3 times.
Cooldown: 6 seconds.

• Level 1: Causes 7 dagame to target and slows target by 35.0% for 5 seconds. Effect can stack.
  
• Level 2: Causes 16 dagame to target and slows target by 42,5% for 5 seconds. Effect can stack.
  
• Level 3: Causes 25 dagame to target and slows target by 50.0% for 5 seconds. Effect can stack.
  
• Level 4: Causes 34 dagame to target and slows target by 57.7% for 6 seconds. Effect can stack.
  
• Level 5: Causes 43 dagame to target and slows target by 65.0% for 7 seconds. Effect can stack.

Ogorim Stone of Stunning
Use: Sends out a shockwave that stuns enemies for a short time.
Cooldown: 20 seconds.

• Level 1: Cause 5 damage to a target, and stuns target for 5 seconds.
  
• Level 2: Cause 10 damage to a target, and stuns target for 6 seconds.
  
• Level 3: Cause 15 damage to a target, and stuns target for 5 seconds.
  
• Level 4: Cause 20 damage to a target, and stuns target for 6 seconds.
  
• Level 5: Cause 25 damage to a target, and stuns target for 7 seconds.

Orb of Ectoplasmic Shielding
Use: Conjures a temporary shield of ectoplasmic force.
Cooldown: 45 seconds.

• Level 1: Shield has 20 hitpoint, and lasts for 6 seconds.
  
• Level 2: Shield has 25 hitpoint, and lasts for 8 seconds.
  
• Level 3: Shield has 30 hitpoint, and lasts for 10 seconds.
  
• Level 4: Shield has 35 hitpoint, and lasts for 12 seconds.
  
• Level 5: Shield has 40 hitpoint, and lasts for 14 seconds.

Ecnon's Orb of Endless Bolts
Use: Casts a lightning bolt that will jump to multiple targets.
Cooldown: 10 seconds.

• Level 1: Causes 7 damage to target. Will jump to 1 additional targets.
  
• Level 2: Causes 14 damage to target. Will jump to 2 additional targets.
  
• Level 3: Causes 21 damage to target. Will jump to 3 additional targets.
  
• Level 4: Causes 28 damage to target. Will jump to 4 additional targets.
  
• Level 5: Causes 35 damage to target. Will jump to 5 additional targets.

Xegnian Explosive Trap
Use: Places an Explosive Trap, damaging the enemy.
Cooldown: 10 seconds.

• Level 1: Places a trap that lasts for 120 seconds. Trap deals 10 damage and knocks back and stuns the target.
  
• Level 2: Places a trap that lasts for 140 seconds. Trap deals 20 damage and knocks back and stuns the target. More range.
  
• Level 3: Places a trap that lasts for 160 seconds. Trap deals 30 damage and knocks back and stuns the target. More range.
  
• Level 4: Places a trap that lasts for 180 seconds. Trap deals 40 damage and knocks back and stuns the target. More range.
  
• Level 5: Places a trap that lasts for 200 seconds. Trap deals 50 damage and knocks back and stuns the target. More range.

Simulacrum of the Wandering Spark
Use: Summons a wandering ball of electricity that attacks nearby enemies.
Cooldown: 50 seconds @ Level 5.

• Level 1: Causes 20 damage to target, and lasts for 10 seconds.
  
• Level 2: Improved range. Causes 25 damage to target, and lasts 16 seconds.
  
• Level 3: Improved range. Causes 30 damage to target, and lasts 22 seconds.
  
• Level 4: Improved range. Causes 35 damage to target, and lasts 28 seconds.
  
• Level 5: Improved range. Causes 40 damage to target, and lasts 34 seconds.

Ecnon's Diabolical Bolt
Use: Fires magical, homing missiles at surrounding enemies.
Cooldown: 10 seconds.
Each enemy can be hit by multiple missiles.

• Level 1: Conjures 1 missiles, causeing 10 damage to each target.
  
• Level 2: Improved speed. Conjures 2 missiles, causing 12 damage to each target.
  
• Level 3: Improved speed. Conjures 3 missiles, causing 14 damage to each target.
  
• Level 4: Improved speed. Conjures 4 missiles, causing 16 damage to each target.
  
• Level 5: Improved speed. Conjures 5 missiles, causing 18 damage to each target.

Molten Ring of Conflagation
Use: Conjures a fiery ring that causes damage to enemies, and adds a damage over time dealing 2 damage every second for 5 seconds.
Cooldown: 60 seconds @ Level 5.

• Level 1: Causes 5 damage to target, and lasts for 7 seconds.
  
• Level 2: Causes 6 damage to target, and lasts for 8 seconds.
  
• Level 3: Causes 7 damage to target, and lasts for 9 seconds.
  
• Level 4: Causes 8 damage to target, and lasts for 10 seconds.
  
• Level 5: Causes 9 damage to target, and lasts for 11 seconds.

Summoning Orb of Elemental Fire
Use: Casts a wall of fire.
Cooldown: 15 seconds.

• Level 1: Causes 3 fire damage to target every 3 seconds, while affected. Lasts for 5 seconds.
  
• Level 2: Improved range. Causes 5 fire damage to target every 3 seconds, while affected. Lasts for 6 seconds.
  
• Level 3: Improved range. Causes 7 fire damage to target every 2 seconds, while affected. Lasts for 8 seconds.
  
• Level 4: Improved range. Causes 9 fire damage to target every 2 seconds, while affected. Lasts for 9 seconds.
  
• Level 5: Improved range. Causes 11 fire damage to target every 2 seconds, while affected. Lasts for 10 seconds.

Elemental Cube of Earth Summoning
Use: Conjure a stone wall.
Cooldown: 4 Seconds.

• Level 1: Casting range of 4m. Barrier has 60 Hitpoints, and last for 20 seconds.
  
• Level 2: Casting range of 4m. Barrier has 70 Hitpoints, and last for 22 seconds.
  
• Level 3: Casting range of 4m. Barrier has 80 Hitpoints, and last for 24 seconds.
  
• Level 4: Casting range of 5m. Barrier has 90 Hitpoints, and last for 26 seconds.
  
• Level 5: Casting range of 5m. Barrier has 100 Hitpoints, and last for 28 seconds.

Pendant of Wild Strike
Use: Execute a spin attack.
Cooldown: 3 Seconds.

• Level 1: Causes 10 damage to targets.
  
• Level 2: Causes 20 damage to targets.
  
• Level 3: Causes 30 damage to targets.
  
• Level 4: Causes 40 damage to targets.
  
• Level 5: Causes 50 damage to targets.

Xegnian Fire Trap
Use: Place a Fire Trap, burning and damaging the enemy for a short time.
Cooldown: 10 seconds.

• Level 1: Place a trap that lasts for 120 seconds. Trap deals 5 damage every 2 seconds for 10 seconds. Effects stack.
  
• Level 2: Improved range and duration. Trap deals 10 damage every 2 seconds for 15 seconds.
  
• Level 3: Improved range and duration. Trap deals 15 damage every 2 seconds for 20 seconds.
  
• Level 4: Improved range and duration. Trap deals 20 damage every 2 seconds for 25 seconds.
  
• Level 5: Improved range and duration. Trap deals 25 damage every 2 seconds for 30 seconds.

Ring of Binding Silence
Use: Fire a glowing ball of energy that silences enemies, rendering them unable to cast spells.
Cooldown: 5 seconds.

• Level 1: Silences target 7 seconds.
  
• Level 2: Improved speed. Silences target for 9 seconds.
  
• Level 3: Improved speed. Silences target for 11 seconds.
  
• Level 4: Improved speed. Silences target for 13 seconds.
  
• Level 5: Improved speed. Silences target for 15 seconds.

Summoning Ring of Pernicious Poison

Use: Casts a wall of poison.
Cooldown: 15 seconds.

• Level 1: Poisons the target, causing 3 damage every 3 seconds, while poisoned. Effect lasts for 5 seconds. Poison can stack.
  
• Level 2: Poisons the target, causing 4 damage every 3 seconds, while poisoned. Effect lasts for 6 seconds. Poison can stack.
  
• Level 3: Poisons the target, causing 6 damage every 2 seconds, while poisoned. Effect lasts for 8 seconds. Poison can stack.
  
• Level 4: Poisons the target, causing 8 damage every 2 seconds, while poisoned. Effect lasts for 9 seconds. Poison can stack.
  
• Level 5: Poisons the target, causing 9 damage every 2 seconds, while poisoned. Effect lasts for 10 seconds. Poison can stack.

Summoning Ring of Elemental Ice

Use: Casts a wall of ice.
Cooldown: 15 seconds.

• Level 1: Slows target, and causes 3 cold damage every 3 seconds, while effected. Effect lasts for 5 seconds.
  
• Level 2: Slows target, and causes 4 cold damage every 3 seconds, while effected. Effect lasts for 6 seconds.
  
• Level 3: Slows target, and causes 6 cold damage every 2 seconds, while effected. Effect lasts for 8 seconds.
  
• Level 4: Slows target, and causes 8 cold damage every 2 seconds, while effected. Effect lasts for 9 seconds.
  
• Level 5: Slows target, and causes 9 cold damage every 2 seconds, while effected. Effect lasts for 10 seconds.

Udiozhul's Pendant of Poisoning

Use: Conjures a noxious cloud of toxic gas that poisons anyone caught in it.
Cooldown: 30 seconds.

• Level 1: Casting range of 3 m. Poisons the target causing 6 damage every 2 seconds, while poisoned. Effect lasts for 5 seconds. Poison can stack.
  
• Level 2: Casting range of 4 m. Poisons the target causing 10 damage every 2 seconds, while poisoned. Effect lasts for 6 seconds. Poison can stack.
  
• Level 3: Casting range of 4 m. Poisons the target causing 14 damage every 2 seconds, while poisoned. Effect lasts for 8 seconds. Poison can stack.
  
• Level 4: Casting range of 4 m. Poisons the target causing 18 damage every 2 seconds, while poisoned. Effect lasts for 9 seconds. Poison can stack.
  
• Level 5: Casting range of 5 m. Poisons the target causing 22 damage every 2 seconds, while poisoned. Effect lasts for 10 seconds. Poison can stack.

Ecnon's Orb of Endless Confusion
Use: Casts a beam that will jump to multiple targets.
Cooldown: 60 seconds.

• Level 1: Stuns target for 5 seconds. Will jump to 1 additional targets.
  
• Level 2: Stuns target for 6 seconds. Will jump to 2 additional targets.
  
• Level 3: Stuns target for 7 seconds. Will jump to 3 additional targets.
  
• Level 4: Stuns target for 8 seconds. Will jump to 4 additional targets.
  
• Level 5: Stuns target for 9 seconds. Will jump to 5 additional targets.

Elvin Ring of Reflection
Use: Reflects incoming spells.
Cooldown: 60 seconds
Effect: ~10 seconds.

Ogorim Pendant of Irresistable Force
Use: Emits a shockwave, that knocks back enemies.
Cooldown: 20 seconds.

Elvin Boots of Alicrity
Use: Increase your speed for a short time.
Cooldown: 20 seconds
Duration: 10 seconds

Rod of Hallowing
Use: Creates an area of hollowed ground that reduces evil.
Reduces 1 Evil per second.
Duration: 20 seconds.
Cooldown: 120 seconds.

Stone of Hearth Summoning
Use: Summons a campire.
Heals 1 health per second.
Duration: 20 seconds.
Cooldown: 120 seconds.

Wisp Stone
Use: Summons a wisp that helps you find secreat areas.
Duration: 60 seconds.
Cooldown: 70 seconds.

Goblin Wand of Breaking
Use: Clear all debuffs and impairments.
Cooldown: 15 seconds.