Hmmm.... where to begin...
"Wizard 9"
As to my knowledge, there isn't any spells that are Wizard only, all spells are Sor/Wiz. Why you decided that it should be Wizard only is lost to me.
this was an oversight on my part. My apologies.
"Elemental/Alteration"
There isn't anything called Elemental school, nor is there anything called Alteration school (that would be Transmutation in 3.0). If you use a specific element in a spell, you add it in a bracket after the school is mentioned (for example, Evocation [Fire]).
Elemental is a school of magic I have been toying with on and off for a while, I'll post details when I get my notes together. I don't think transmutation really fits either. nothing is really being changed... merely moved temporarily.
"Duration: 1 round"
The duration should be instantaneous, not 1 round. If it is 1 round, that means that you could use Extend spell to make it last 2 rounds, which would mean double damage for a mere +1 increase in Spell level.
I disagree here. By using extend spell, you would merely be able to keep the hole open for an extra round at which point it would then snap shut. By extending the duration, you would merely be giving those inside a chance to escape the hole (and any damage).
"range: 100'"
In the current rules regarding spells, range is almost never a fixed amount, especially for damage spells like this one. Instead, the rules use ranges like Medium (100 ft. + 10 ft./level) which I think is what this spell roughly is applicable for.
very well. This was originally modified for a 2nd ed. game and some of those aspects have translated over. Again. it's a work in progress and input is valuable.
Now... the spell itself...
20d10 damage without a save. Overpowered. A Reflex Saving throw would definitely be applicable and you might also want to notice that no spell causes damage of d10.
It isn't the spell itself that causes the damage. the spell merely forces open the hole. it's the force of the earth reverting back that causes the damage.
Generally, the rule in 3.0 and 3.5 is that spells cause d6 if they deal very general damage that can harm most creatures and d8 if they cause damage that is more specific to a type of creature.
About the being knocked prone part, I don't know why on earth you set a fixed Reflex Save DC instead of using normal rules, which sets the DC of a spell to be 10 + Spell Level + Caster Ability Modifier.
the reason for this is that the knockdown effect is secondary to the spell itself. Yes, it is a result of the spell forcing open the hole, yet it is the hole opening that causes the tremors which cause the knockdown effect. I should have been more specific as to the cause of the effect.
A good idea when creating a new spell is to read existing spells first...