So in the quakecon demo, they showed the magic menu. It was divided into "Favorites", "All" , Each of the 5 magic schools, "Shouts", "Powers", and "Active Effects".
Each is pretty self explanatory except the Powers tab. What could be under there? At first i thought racial abilities but i don't they would make a whole tab for the one racial power each race would get (presuming that each race gets at least one.). Thoughts?

Maybe passive skills?

Might be powers given to the player from wayshrines or temples etc? or even quest-related reward perks? good find though - i hope the racial abilities are more extensive this time around

Could be the Racial abilities amongst others. Not sure if spells would be in there or if they have their own list.

Yeah, it's probably special abilities related to race, birthstones, quests, etc.