Hrvojeferle, the reason Venomous Fangs is put on Goblin Sharpshooter is because whenever he hits a creature it dies, then he untaps when that creature goes to the graveyard. Rinse and repeat. Nice one Ty, +1 for the combo.
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I like the idea. I would throw in some draw spells that make both players draw, then play the Wurm to bring all of his stuff out, then steal it all by playing Confusion and then all your elementals. Also, I would throw in some Naturalize maybe so you can destroy Confusion when you want to get rid of it. Furthermore, any auras that you put into play would still be attached to their respective creatures when control is exchanged, and therefore still provide the given effect, so you could put some simple buff enchants on your guys and steal his stuff in the process, especially with tribal enchants that have creature types on them.
Not quite as eloquent as my tribute to your deck, Boukengreen, but I accept the ass-kissing nonetheless.
On a more serious note, I would classify the deck as a burn deck that uses loss of life rather than damage to slowly kill your opponent. This way, it avoids protection spells that prevent damage, and also effects that counterstrike against sources that deal you damage. More often than not, you will not take any damage from this deck at all, you simply just lose life and die. Rundown: Agent of Masks siphons life from the opponent at the beginning of every turn. Souls of the Faultless blocks any attack attempts while siphoning life from the opponent. Hissing Miasma deters attacks in the first place. Infectious Host punishes anyone who blocks it with a loss of two life when it dies. Thoughtpicker can be used to intentionally kill Hosts to drain opponents and kill off cards. Castigate gives a look at what the other player has in store while letting you get rid of a threatening card. Mortify takes care of most things that do get out onto the battlefield. Poisonbelly further punishes creature ambitions and Ostiary Thrull keeps any creature abilities in check. Skeletal Vampire is a mana dump later that gives flying blockers and even a possible creature rush. That's about it.
As a victim of this deck, allow me to explain. At the beginning of every upkeep you ask how much life you are losing. Most of the time this life goes to TED's controller, and five turns later you enter the, "Shuffle your deck because you just lost" Phase. A reluctant +1.
Joshing is correct here, the skipped turns are practically pointless. Here's how it looks visually in the turn order: You|Opponent|You|Opponent. Once you tap for the eon counter, you have to skip your next turn. You|Opponent|Opponent|You. Then you untap with something and tap again for, "extra turn after THIS one" Now turn order looks like this: You|You|Opponent|Opponent. Basically, your skipped turns add up into a block of consecutive turns for your opponent that he never gets to take because you are, "still busy with your extra turns, check back later." So evil, so awesome, so +1.
Oh and on a side note, I'm almost embarrased to say but my Clockspinning theory wouldn't have worked anyway, given that Magosi returns to the hand after you tap for the extra turn. Whoops. Anyways, props to Joshing on the, again, ingenious combo. I'll admit I was myself skeptical at first but it's just one of those things that you have to see from the right angle to understand, and once I did it was obvious. +1 from me.
Joshing is correct though. MTG official rules state that if multiple extra\skip turn effects coincide, you play them out in the opposite order they were activated. For example, say your opponent plays something that makes you skip your next turn, then later in that same turn you play Timewalk, since Timewalk was the most recent, it takes place first. In the case of Magosi, you still end up having to skip those turns, but only after you are finished taking your extra turns, which in this case are endless. Therefore, the game eventually ends with a backlog of turns that you are supposed to skip but never got around to. Quite ingenious actually.
Use Clockspinning to complete the loop. Once you have tapped Magosi for the counter, Clockspinning adds another duplicate counter to target permanent, plus it has buyback. Then you untap-retap for the extra turn, untap-retap for another to cover the turn you have to skip, and you net gain one extra turn. Assuming you already have two of your Unbenders or Fatestitchers, all you need is the 4 mana to play and buyback clockspinning to complete the loop. Any additional mana can be used on other spells or to add additional counters so you never have to use Magosi's tap ability to add the eon counters. That way you don't need to cover for skipped turns and you net gain more extra turns each time, not that it would matter at that point.
Hate to rain on your parade, but, Tendrils of Corruption only damages creatures. Unless you have something that gives you victory for life total, you're not going anywhere with this one.