OK,
To answer the poster's question (and putting aside balance issues for the moment): there is no reason at all that energy can't be conjured in a fantasy world. To me it makes perfect sense. Orb of force and Orb of sound are simply conjurations of those "elements". Same with the others. The distinction between "thing" and "energy/force" need not exist in a fantasy world.
Onto balance:
From a balance issue, I really don't like these spells being in conjuration. It makes the school too powerful. Far too powerful. Toss in blast of flame, and I'd never use evocation again.
The spells themselves are not overly powerful.
Pluses: They don't have a save, don't allow SR and do upto 15d6 damage.
Minuses: They require a touch attack and only affect one target.
They are handy if you know you have a baddy that has SR and doesn't have significant energy resistance. But they are very rarely the best 4th level spell. Against hordes you want an area spell. Against bricks (high AC, high HP) baddies you probably to use a save-or-(die/greatly hinder) or battle-field control spells (to let the party heal, buff, or whatever). I feel the orbs are merely a good "I've not nothing else useful to do, so I'll tack on a bit of damage" spell.
As far as the 1st level spell goes, Magic missile is at least as powerful as any of the lesser orbs. MM gives the same damage (but untyped!), no touch attack, but allows SR. I think I'd stick with magic missile unless I know I'm hitting high SR baddies or that I want typed damage (there be trolls out there!)
I suspect the real issue is that people want SR to be really important. I don't worry about its general weakening by the splat books. I felt it was too powerful to begin with.....