Long story short, this is a mod by Xilver, who once upon a time did a spell mod called Midas Magic: Spells of Aurum, for TES Oblivion. Well, now he made one for TES Skyrim.
Essentially this adds a bunch of new spells in Skyrim. It has some pretty awesome spells already finished and waiting for you to use them.
See the video below for a little preview of what it offers.
Here's the download page link.
Currently it's in its baby stages with a decent amount of spells (albeit not all fully functional), but it looks VERY promising.
I suggest you hit the link and try it out yourselves.