Well, if it is their last card they will eventually have to draw it, then you will win. Not only that Mindbreak trap isnt a "counter" spell, it could just exile it. I don't believe Emrakul gains protection from colored spells till he hits the field.
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Looks good a different take on discard, I like my Black and Blue discard I would look into Mind Rot Hypnotic Specter Megrim Burning Inquiry < Good and Bad
Oh and as for going Black and Blue, Mind Rot & Haunting echoes
Jace is a permanent, Day of Judgment, Over Planar Cleansing 1 Lightning bolt and Jace is dead, Counters would be a good idea, toss in some Harms Way or go blue and black, add counter spells (negate, spell pierce, cancel) I like Fonts and Mines but, they give you no control over an opponents draw happens all the time, Reckless Scholar gives you more control there.
I would toss in Sanguine Bond x2 or x3 and get a Blood Tribute x2 or x3. A friend or mine is running a similar deck and if your opponent has an even amount of life its game with that combo.
I would add Field Marshal but, I just started playing magic after a long time of not playing, So I'm trying to keep all my decks M10, Zendikar, and soon Worldwake. So they live a little longer for Standard play. I realize I'm handicapping myself doing this but we will see how things go after I make and get to play a few of these decks I've made.
I do like the white, 4 mana for 7 life and 7 damage, low cost twin cast if possible, 14 and 14 for 6 mana, only way to beat that is to get out Blood tribute with bond and have a vamp out.
consume and tendrils, are spell fillers / creature distruction / gain life Twin Cast Copies the spell and all costs paid for it, consume and twin cast.
Roil Elemental would be a nice critter to toss in this deck, and as far as creature control there is Mind Control
I would have tossed those in, they would be good additions, maybe take out the Summoner's Bane for Mines, Though I would rather be able to bounce back a creature to their hand with Unsummon than replace that with a Font. Besides I would rather have Reckless Scholar over a Font.