There’s nothing terribly wrong with the spell. It’ll work. Like Opcero, I just don’t think it really helps much. Increasing risks for getting a staff doesn’t strike me as especially interesting, especially if they’re just spell failure risks. There are already other solutions and I think they’re actually more interesting than making Sorcery the hammer that turns every problem into a nail. Needing to use Circles or Carving or whatever means wizards actually do something other than roll Sorcery all day, and that’s important!
This is also either a way to blow 12 RP for very little or a very long time spent learning a spell that does very little. It still looks like a sucker’s game to take this over almost anything other option.
Song of Bonding strikes me as exceptionally boring too, but at least it makes an important point about Elves, seconds, and how bonding works. I’d still probably be happier if it were just rolled into the Lesson of One trait.
Opcero, the rules for making new spells are the Abstractions chapter of the Magic Burner.