I voted yes only because on the Oblivion page, the trailer showed enemies using the magic. Since those spells appeared to be 100% accurate, I consider it a cheat mod. But since the enemies can use those same spells, I suppose that balances it. Though the time stop spell would be interesting to see an enemy perform...
On another note, that mod would be awesome on a super difficult-set game. It would be satisfying to kill the lvl 300 rat with these spells