No, it is a feature and it is mentioned on the http://www.uesp.net/wiki/Skyrim:Restoration.
Necromage is a perk that boosts all spells affecting the undead. A player vampire is classed as undead.
So most everything the game considers a spell cast on the player gets a 25% boost in magnitude or duration.
And it is by no means a 'win'button. As I mentioned, getting your restoration up to 70 early in the game coupled with no regenerating stats in sunlight poses serious challenges and any direct melee contact is to be avoided at all cost.
If you're unlucky enough to face Forsworn in daylight while low on magic, you better hope you haven't exhausted your stamina yet, cause, run.
It's the only way I play Skyrim these days. I play on xbox and can't just mod things in like no regenerating stats or harder enemies. I also really enjoy the whole glass cannon playstyle, because perked up there is barely an enemy in the game my illusion won't affect.