DedWards

Personally, I don't see Liliana of the Dark Realms +1 as ramp (it puts the swamp into your hand, not onto the battlefield). Her -6 is nice, but it has no affect on the equipments in here. And her -3... there's better kill / pump at less than 4 mana.

If I could get my hands on a set of Tainted Strike,they'd go straight into my Korlash deck's sideboard :P

I have a black land search deck that has a few cards that may interest you.

Wayfarer's Bauble can allow for a turn three play of Lashwrithe / Nightmare Lash (or anything else that costs 4).

Mutilate is a good board wipe. If your creature is equipped, it will survive Mutilate.

Korlash, Heir to Blackblade has a very nice grandeur ability and because it's an activated ability, you can use it at instant speed, allowing for some nice tricks.

I run a Presence of Gond + Midnight Guard deck in Pauper and I've found that running a set of either Evolving Wilds or Terramorphic Expanse helps a lot. Increasing the chance to draw non lands is very important in a deck like this.

One guy I play against often runs a similar deck to this. One cards he uses that you don't seem to be using is Apostle's Blessing. It's good to both protect your creature and to give a form of evasion.

Another card that I think could hurt the opponent is Mutagenic Growth. On either Kiln Fiend or Nivix Cyclops, it's "Pay 2 life: target creature gets +5/+2" :P

Ghave is the only reason this deck is not Modern legal.

If you're going Thallid heavy, Sporesower Thallid and Sporoloth Ancient should be main board to speed up the Saproling production.

Two instants that may interest you are Scatter the Seeds and, my favourite, Sprout Swarm.

Rootborn Defenses may help against board sweep spells.

Beastmaster Ascension could be good too.

Lighting Helix?

I personally prefer Go for the Throat, with a replacement in sideboard for if you go up against an artifact heavy deck. Ultimate Price can't target colourless artifacts either, so a replacement in sideboard might be a good idea anyway. My normal replacement is Doom Blade.

You're missing the best mill zombie: Undead Alchemist

People also don't realise that Vampiric Link (Spirit Link and Spirit Loop too) is worded in such a way that it's effect stacks (it's NOT lifelink) :P

Also, a word of warning. A creature with Vampiric Link on it can still kill you. The following rule explains it:

You only gain the life when the triggered ability resolves. If you are reduced to zero life before the ability resolves, you will lose before gaining the life.

I'll be honest, I've never played with an aura based deck, only against one. Your best bet is to Google "Aura Hexproof" and look at those decks. Normally I'm against net decking, but it can't hurt to at least get an idea from those decks.

One of the key winning factors of the big aura decks in Modern is the fact of most of the creatures having hexproof. On the aura side, atotem armor is good for surviving mass removal, Ethereal Armor to further capitalise on the quantity of auras, and Spirit Mantle for evasion.

Another little trick I'd love to try, if I could get my hands on the cards, is to run Auratog in a deck like this. Auratog + Rancor is awesome on paper, but I'd like to see it in action.

Rush of Battle works surprisingly good. I had 2 in the Mardu deck I've been tinkering on and after it won me 2 games in a row, I've bumped it up to 3 :P

If you're going for a Commander deck here, you got 3 cards too many. If you're looking for a GW legend that is an elf, Rhys the Redeemed and Tolsimir Wolfblood come to mind.

I play elves a lot in Modern and I've found that more often than not, Talara's Battalion is just a dead card. A lot of the time, your hand is empty by the time you draw it, thus making you have to wait for another card before you can play it.

The only suggestions I can give is to take a look at my take on Elf Tokens:

http://www.mtgvault.com/dedwards/decks/modern-elves/

Hopefully you can get a few ideas from it. It's been a while since I updated it because I've been concentrating on my more aggressive Elf Warrior deck(for Modern) and my Midnight Gond deck (for Pauper).

Favourable Winds to boost all that flying?

If you include a set of Sift Through Sands and 1 or 2 of The Unspeakable, you can have a secondary game plan of fish out Unspeakable, attack, returning a burn spell, burn. Also, with this many instants and sorceries, why not include cards like Young Pyromancer; Guttersnipe; Wee Dragonauts; Monastery Swiftspear; Kiln Fiend; or Nivix Cyclops.

Thallids are a good idea for Saproling production, but 2 instants I think you should include are Scatter the Seeds and Sprout Swarm. If you splash white, there's a number of GW cards that provide Saprolings too. Selesnya Evangel, and the Supply half of Supply // Demand come to mind, and if you do include white, Pallid Mycoderm would be awesome. white also opens up some nice sideboard cards like Rootborn Defenses and Seed Spark or Sundering Growth.

If he made Rhys the Redeemed the commander, he could us the other hybrids

You're missing probably the best 3 mana vanilla creature: Leatherback Baloth

Also, you may want to work in some other non creature spells. Search for Tomorrow and Giant Growth come to mind. Overwhelm might be worth considering too, though that might work better if vanilla token creatures ( *cough* Saprolings *cough*) was the focus.

Honour of the Pure?