I'm probably waaay to late here but here are some comments:
1: Neat system, looks nice. Good work really
2: The REAL challenge in alchemy is balancing it. A wizard (cleric, sorcerer etc) can cast X many spells per day, then they have exhausted their magical resources. An alchemist can create how many magical effects per day? It could be zero, it could be 500! It all depends how much time and how much money they have. And that's... rough.
If the main balancing factor is money, that's iffy. In a low money game the alchemist is weak, in a high money game he is potent. And what happens if the rest of the party donates their gold to the alchemist? It is *far* better to use a special resourse(s) that are specific to alchemy than use gold as a limiting factor. But then how much of this special resource(s) is sufficient?
The main balancing factor cannot be encumbrance, because that can be side stepped with henchmen, mules, bags of holding...
If the main balancing factor is "these alchemist concoctions lose potency quickly and must be refreshed every day" well that's the same as spell slots isn't it?
If the main balancing factor is time to prepare this stuff, it can get weird because the power of a character becomes tided to the pace of an adventure, and to the amount of time between adventures the alchemist has.
In conclusion, I've been searching for an alternate to "At will/per short rest/per day" way to balance alchemical powers and I have not found a suitable replacement. The artificer, which has an alchemist subclass, uses a spell slot system... and that is telling.
See this thread:
http://www.enworld.org/forum/showth...ive&p=7323842&highlight=bloodroot#post7323842