FoxWander
Adventurer
That said, I believe the spell you've written is significantly too powerful for a first-level spell.
I agree with all your other points about M&M and such, but this I'm not sure about. A chance of being nauseated by a 1st level spell is no worse than being put to sleep or unconscious, blinded, and stunned. However nauseated is an effect that first shows up in 2nd level spells though- so there's that to consider.
My real problem with the spell is that the "rainbow" description doesn't match the effect of the spell. It describes fx from the different energy types and yet it does no damage from those energies. Other "rainbow" spells either do multi-type damage effects or strictly light effects (fascination).
So, basically the spell as written is a bunch of contradictions. Description doesn't mesh with effect. And the effect is perfectly inline, power-wise, with other 1st level spells (it's save-or-lose just like sleep or color spray) but specifically doesn't show up in other spells until 2nd level. Description, effects and mechanics aside, however, IMHO the end result (fail the save and you're potentially out of the fight) is on par with other 1st level effects.