Currently, I believe the cooldowns for most spells are just way too short. When you can cast the same spell every 10 seconds, that spell quickly becomes very powerful yet each cast becomes much less significant. You don't need to strategically use your casts because if you waste a cast, you can just cast it again in a few seconds. Healing and shielding spells are ridiculously overpowered because your only limiting factor becomes your mana. For example, Rook's hammer is ridiculous because you can get an easy kill if you land it, but if you miss then hey, no big deal, you can use it again in a very short time. There is no penalty for missing, practically, yet the penalty for the opponent not dodging is severe. This also means there aren't really many spells that, when used, make the enemy run away for fear of death until the spell's effects are gone. An example is Unclean Beast's weapon damage buff: It gives you a nice boost, enough to kill enemy demigods fairly quickly, but the cooldown is short enough that you can have it up 50% of the time, and you still don't kill them fast enough that they really need to fear being in melee unless they are very squishy.
To summarize:
-Lots of low cooldown spells means each cast is insignificant and badly timed casts aren't punished enough
-Low cooldown spells also results in a large portion of the imbalances currently seen
-Lacks of high-cooldown spells also results in a lack of very powerful or epic spells
Also, this doesn't mean every spell should be given a ridiculous cooldown: low-cooldown spells should still exist and be the bread and butter of any demigod's arsenal, but there should still be those demigod-defining longer cooldown spells.
Any thoughts/comments?