More of WoolToque's rebalancing mods would be welcome, but in the meanwhile Syrchalis' Rebalance - Common Effects and Rebalance - Nerfs tackles both under- and over-performing systems, albeit with solutions that can feel inelegant or overly complex. This mod offers a good alternative by specifically targeting Arcane Acuity - easily one of Larian's most broken systems, alongside the Wet-condition and Tavern Brawler. Most players prefer quick ways to being overpowered and dislike having their favourite toys taken away, so balance mods often struggle with popularity.
Wil be interesting to see what you come up with! An example of elegant design is Reworked Cantrips, where the cantrips aren't simply balanced, but also given situational tactical uses that fit thematically. I also like much of the changes in Balance Tweaks - specifically reducing long durations with concentration for much shorter ones without (albeit shorter casting time would make them more flexible). Good luck!
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EDIT: Have you considered doing this with other busted mechanics like orbs of light or even improve heat mechanics to not be so bad?