I have not read through all the comments in detail but I thought i might peek and give some feedback. I hope I am not to late!
short and sweet, I think that is a good route to go!
The frost projectile at 0:12 seems to lag forward, whats up with that?
I personally think the video is a bit to dark and the effects to bright, maybe contrast everything to a more balanced level.
Overall I think the effects look nice and you showcase a lot understanding in animation that I think will be appreciated.
The weakest piece is probably that fireball/comet & frostball attack(0:15-0:17), mostly because the impact feels like a giant star billboard expanding, either you redesign that explosion or I would suggest cutting them out.
Everything else is quite good and everything after that anchor effect is definitely your strongest pieces.
I hope the application goes well, goodluck!