We DO need more damage spells. Each school should have, at least, one, single target ranged damage spell. All the buffs and deBuffs in the world are great, but it doesn't mean anything if you can't do the one thing in a fight that matters, doing damage. And I don't like the idea that all but fire mages have to rely on swordplay to kill enemies.
I remember Stardock saying they didn't want to do this because then all the magic schools would seem the same. Actually, I think there is a direct damage spell in all of the schools, but they need a little work. Here are some ideas.
For example,
Fire: I think the direct damage fire spells are slightly overpowered so they could add a penalty such as the troops you just burned now all have burning blades
Water : Chaos and Pandemonium kind of do this now, but they do one or the other... direct damage or slowing but not both. To make these spells better they should do both. Do lower direct damage than fire, but also slow or freeze or weaken or daze.
Air: Storm is a great direct damage spell and has random targets. That makes it feel different than fire. The problem is you have to be level 3 to use it. That spell should be level 2 and then they could expand from there (i.e. chain lightning, etc.)
Earth: Earth has shockwave, but only when surrounded. You should be able to throw a rock and do a little shockwave. I also like the teleport in do a shockwave then teleport out spell... can't remember what that's called.