It would be easy enough to make one... just a matter of removing the on-cast effects from the Magic Effects.
[EDIT] Easy enough yes, but incredibly tedious...
[EDIT again] http://www.4shared.com/file/247368264/252da0f2/FXBeGone.html... removes the light and effect from everything... I forgot about sounds, and they'll take four times as long as this did, so I'll wait until I know for sure if you care about the sound to work on that
P.S. I'm really not sure what it's going to do, since I'm not going to test it... way too sleepy right now. I promise it won't make your game blow up, but it might do weird [censored] for as long it's active. If it DOES do something freaky, just deactivate and all will be fine. Let me know about it so I can fix it. There was really no finesse involved in its creation, so the effects might have been removed from some things that would make sense to keep them*.
*This sentence makes no grammatical sense. It's 5 AM. Deal with it.