Indeed. I can think of a few though, that MAY be possible (I'm no modding expert, so I'm probably an idiot for making even that statement.) Battle spells should be severely limited and difficult to spam. This means using a lot of single slot components and/ or including a cooldown period for each spell. The simpler spells are fairly cheap, using only small amounts of reagent, but the nastier the spells grow, the more reagent is used.
Boom - I like an idea I saw someone post before, that you could blow yourself up without the actual block damage so there wouldn't really be lag. Just the sound of an explosion and some dead people. (directly copied from above) (6 Sulphur; unspammable as the user dies upon use. Cooldown: 3 hours.)
Force - Cause an explosion which has physics but no block or direct damage; mostly good for opening up some space between you as a battle mage and your usually sword-wielding enemy, or for pushing them off cliffs. (8 Feathers, 4 Sulphur, 30 seconds cooldown)
Burn - Set an enemy within 4 blocks on fire; the fire is applied directly to the character and does not affect blocks. (Bucket of lava, Bow. Bucket is returned. cooldown: 3 minutes.)
Long Burn - Set an enemy within 20 blocks on fire. (Bucket of Lava, 2 Bows. Bucket is NOT returned. Cooldown: 6 minutes.)
Douse - Summon a block of water at your feet for a second, ideal for dousing fires caused by Burn. (Bucket of Water, 6 redstone. Bucket returned. Cooldown: 1 minute)
Douse Other - Summon a block of water for a second where the cursor is pointing. Help your non-mage buddies! (Bucket of Water, Bow, 12 Redstone. Bucket returned. Cooldown: 1 minute)
Fort - Create a 3x3 obsidian fortress around yourself for 20 seconds, sheltering yourself and nearby allies. Buy time to regroup! (32 Obsidian, 32 Redstone. Cooldown: 3 hours.)
Guard - Summon a set of leather armour on yourself. Will not affect armour slots which are occupied otherwise. (6 leather, 6 redstone, cooldown: 3 minutes)
Guard Other - See guard, but affects the target your cursor is on. (6 leather, 12 redstone, Cooldown: 4 minutes)
Saviour - Restore target health to maximum. (2 gold ingot, 3 cooked porkchop, cooldown: 12 hours)
Cage - Encase target square in cactus for 5 seconds. (8 cactus, 16 redstone. Cooldown: 12 minutes)
Corrode - Target item durability drops 20% of remaining durability. Does not affect items of durability 30% or under. So it may be inconvenient with diamond users, but a bum-rush won't instantly kill a diamond item. (Bucket of water, 2 iron ingot. Bucket returned. Cooldown: 8 minutes)
Summon Blade - Caught without a weapon? This spell summons a half-durability stone sword to your inventory. Cheap and quick. (3 cobblestone, 2 redstone, Cooldown: 3 minutes)
Regenerate - Regain 1 heart. (1 wheat, 1 redstone. Cooldown: 10 seconds.)
Naturally there has to be some testing and balancing, especially concerning a group of mages.