My take on all the 7 schools (advantages/gimmicks)
Lots of people like labeling schools as better or worse than others. There's often comparisons that look at certain stats to deduce this. For example: "storm is overpowered because of their damage," "life isn't powerful enough because they barely get AoE damage spells," "ice is overpowered because of their resist," etc.
In the big picture, though, each school is balanced. You just have to look at every single stat. For every strength in a stat, there's weakness in another. Each school also has certain fighting styles and gimmicks that a majority of their spells play on. And here I want to list them!
Fire Class type: Basic offense Health: Low Accuracy: Low Damage/Critical: High Resist/Block: Low Gimmick 1: Damage over time spells Gimmick 2: Stealing positive charms (blades)
Ice Class type: Tank Health: Very high Accuracy: Average Damage/Critical: Very low Resist/Block: Very high Gimmick 1: Spells and stats that are defensive against all schools Gimmick 2: Stealing positive wards (shields)
Storm Class type: Glass cannon Health: Very low Accuracy: Very low Damage/Critical: Very high Resist/Block: Very low Gimmick 1: Extreme focus on insane damage at the expense of everything else Gimmick 2: Destroying charms (blades on opponent, debuffs on self)
Life Class type: Healer Health: Above average Accuracy: Very high Damage/Critical: Low Resist/Block: Above average Gimmick 1: Group healing capabilities that other schools blatantly lack Gimmick 2: Wide mix of beneficial team buffs (accuracy charms, healing charms, removal of DoT damage, etc)
Death Class type: Soloist Health: Average Accuracy: Above average Damage/Critical: Average Resist/Block: Average Gimmick 1: Health stealing spells with capabilities that prevent the opponent from healing or defending Gimmick 2: Massive variety of buffs, some of which are powerful and involve self-sacrifices
Myth Class type: Duelist Health: Below average Accuracy: Average Damage/Critical: Above average Resist/Block: Average Gimmick 1: Focus on bypassing defenses (multi-hit spells, shield destroying spells, stuns) Gimmick 2: Wide variety of helpful minions that focus on many different aspects of play
Balance Class type: Support Health: Average Accuracy: Above average Damage/Critical: Below average Resist/Block: Average Gimmick 1: Spells that take concepts from each of the schools, and a special universal balance damage type Gimmick 2: Mass focus on rule-altering buffs and debuffs across the board
Fire 
Ice 
Storm 
Life 
Death 
Myth 
Balance