Here is the story I came up with for the game. It is just a brief synopsis, but tell me if it makes sense. And of course, any feedback or observations you might be able to add are well taken and useful, so please, let me know.
From a game design standpoint I think it would be more beneficial to get feedback on the differences between the classes -- what makes a Rune Sage mechanically different from a Monster Slayer or Spell Warrior? -- and the way this magic actually functions in game rather than the specifics of the story. I'm much more interested in what effects the player's alignment has on gameplay rather than the fact that players can align with the evil Cascaval.
I want to know how the spells look, how the spells are cast, how they impact the world, how they can be countered/mitigated, and who can use them. You are making a game about sorcerers, so I think creating a sorcery system that is thematic and fun is more important than the specific who's-its and what's-its of a detailed backstory.
Think of Call of Duty... I don't know much about the story, but I sure know the game mechanics of shooting things are well defined and developed, which supports any story about shooting things. (I'm not a CoD player, so this example may be off) Make a great magic system that any story that focuses on magic will work with.