I worry this makes gift a bit too strong, as it lets you both reflect a gift back to reward people targeting you while giving you extra defense against those who want to hurt you.

Plus its harder to counter with snipe, as wizards working together can better thwart it by mixing up who casts gift and who casts reflect.

I changed it to randomly select 1 of the Spells targeting the Wizard, and I added a Cost of 1.

Not sure it needs the cost if it just picks one

I removed the Cost. We can always add it back if this Spell is observed to be overpowered after a few uses.

It semantics but I would suggest changing

> Both this Wizard and the Wizard who cast that selected Spell have the Effects of that Spell applied to them.

to

> The effects of the selected spell are applied to both this Wizard and the Wizard who cast the selected spell.

The passive voice makes it just a little confusing to parse. 

Thanks, Zack! I changed it as you suggested.

“The effects of the selected spell are applied to both this Wizard and the Wizard who cast the selected spell. “

I think this would apply the effect to the target twice. Once for this effect and then the original effect would still apply.

I re-worded it a bit, so give it another read and see if that addresses your concerns.

more spells, more fun!