Hello all and a happy new year!
Here is my humble mod for your playing pleasure. I´ve worked on it for approximately two weeks although I had alot of these ideas earlier and I did make a previous modification of the game before mod support was enabled by editting the dg.data file. I hope some of you enjoy the changes, if not, your welcome to make suggestions. I do not promise following all or even most of them, but if it sounds reasonable or there is widespread support for a suggested change it can probably be included.
Anyone is welcome to take the changes i´ve made and include them in their own modifications or modify the mod i´ve created for their own personal pleasure. I am not jealous and am happy to share any of my ideas included with any other modders in the interest of improving this great game.
Reasoning behind this Mod:
I designed this mod mainly for my personal pleasure but I also tried to rebalance some of the issues I’ve read about online, using my own common sense and play experience. I cannot make any promises about a perfectly balanced mod because I do not actually play online so my experience is relegated to offline play versus a really simple AI.
In general, I’ve tried to make changes to address some very general issues as well as some very specific problems. Apart from the changes to resolve out-of-balance concerns listed below, i´ve also made changes to improve the aesthetic value of the game, in my humble opinion of course.
Warning: Some of the changes are pretty big, the game isn´t the same. Play at your own risk. 
The overall goal of this mod is to restore equilibrium ie, to try and foster a variety of different ways to play the game with emphasis on different stats and different builds. To try and eliminate cookie cutter builds and favor item choices. To try and create more opportunities for comeback games and to eliminate the vicious cycle of the winning team gaining more and more momentum as they win through enemy deaths and level up advantages. To reduce the death penalty so AIs and newer players aren´t such a huge detriment to gameplay.
P.S. Some changes that may seem like nerfs to your favorite demigod are actually done across the board to take into account the global changes such as health regen and ability damage increase per rank reduction (eg. Health regen skills were reduced across the board to take into account the fact that demigod abilities across the board do less damage etc..)
GENERAL OUTLINE OF CHANGES
-Decreased the value of health stacking. This was done by reducing the hp bonus on all items by roughly 20% causing other stats to become more advantageous in comparison & reducing the ability damage increases per rank making health stacking less necessary.
-Increased the value of other stats such as weapon damage, attack speed and armor by reducing ability damage increases per rank causing autoattack/minions to become more competitive and more important, thus making the previously secondary stats worthy of increasing.
-Reduced the rate at which basic grunts become trivial by raising their damage and health, removing the meta tag which caused them to be insta killed by certain abilities & reducing ability damage increases per rank causing less AOE damage as skills increase in rank.
-Reduced the Burst-type Nature of the game by reducing ability damage increases per rank, increasing Demigod base health pool & increasing Demigod base mana pool so skills are used more frequently but do less damage. (This is not meant to reduce the skillcap of the game and hopefully it won’t do so in any noticeable way. A well timed skill should still reap benefits)
-Improved the Aesthetics of the game by increasing the corpse decay multiplier so that bodies last longer, shrinking the size of most demigods especially the larger ones such as Rook, Queen of Thorns & Oculus, shrinking the size of the larger grunts such as Giants and Catas, increasing the lifetime of beams from towers and Rooks TOL, adding CanOverkill = true to some abilities so they can launch smaller grunts in the air on death, updated tooltips for all changes and included tooltip stats for some skills that lacked such and decreased the scale of QOTs main attack, shamblers attacks and brambe shield´s graphic to take into account the size change of most demigods.
-Improved the chances of comeback games and decrease the disadvantages or gaps between the underdog and the leading team by reducing the amount of health gained per level up by 50%, reducing ability damage increase per rank by roughly 50%, reducing bounty awarded per kill by roughly 60% & reducing the damage caused by giants by roughly 60%.
-Reduced the power gap between Assassin & General Types by increasing the base weapon damage for all assassins, reducing the amount of minions for Oak & Erebus to 2,4,6,8 max, and reducing the heal amount of minion priests.
-Reduced the power of support (General) demigods so they are just as useful as a pure damage demigod by decreasing the amount healed by Sedna Heal and damage absorbed by QOT bramble shield. Oaks new shield also balanced with the above two skills mentioned.
-Reduced the potential for abusing certain abilities by tweaking or reworking Oaks Shield, Ward & Minions, Erebus Mist, Batswarm & Minions, Regulus Snipe & mines, Rooks Towers, Demon Asassins Shadowswap, Unclean Beasts Ooze & Spit etc. without underpowering the above mentioned abilities or by buffing other aspects of the ability or demigod to compensate.
-Increased the diversity between demigod builds and balance of the demigods against each other by tweaking the abilities in such a way as to make them all viable without making any of them underpowered or overpowered. When a nerf was deemed necessary, the ability in question was buffed in some other way to make it less severe. (Example, Ooze doing less dmg per sec and debuffing less % attack speed compensated slightly by decreasing health cost per sec) . When a buff was deemed necessary, there was usually a slight nerf to counterbalance the buff as well. (Example, Torch Bearers Fireball rank1 damage increased from 300 to 500 and cast time decreased from 1 to 0.5 which is counterbalanced by increasing mana cost by 200 and rank up mana cost by 100.)
-Increased the value of minions and minion based builds by increasing the damage or health of the minion in question, reducing mana costs and keeping the rank up bonus the same while other attack, AOE, and utility abilities have their rank up increases reduced. (Example, Demon Assassins Spine attack rank1 does 400 dmg and Spine attack rank2 does 525 dmg which is upgrade of approximately 30% while Sednas Horn of the Yeti rank 1,2,3,4 increases minion count by 1,2,3,4 and rank2 and on add weapon dmg and health as before which is an increase of 100% or more when weapon damage and health increases are added in rank2 etc) Also, changes made to Sednas Yetis to make them more viable by removing footprint so they ignore grunts and attack through them, or Occulus Ball Lightning lifetime raised from 20 sec to 60 sec.
-Fixed some issues causing imbalances in the game by allowing Rook and Fire Mode Torchbearer (Sorians Changes) to attack while moving & by reducing cast times and animation times correspondingly of certain abilities to make them more usable such as Rooks Hammerslam, Regulus Snipe & TB fireball.
Download link is listed below::
Edit: Please read the included Changelogs in .doc or .txt formats for a complete listing of changes within. The .doc version is color coded and formatted for easier reading.
Please unrar/unzip the file into a temporary folder and copy the Equilibrium folder into your mods folder which is inside the bindata folder where you have Demigod installed on your harddrive and then enable it ingame.
VERSION 1.1
http://www.filefront.com/15300049/Equilibrium%201.1.rar
VERSION 1.1 LITE (All Graphic modifications removed)
http://www.filefront.com/15303549/Equilibrium%201.1%20Lite.rar
Thank you for your interest!