This looks like the next step in Sensei Sensei. I am currently working on a new list of Sensei Sensei, as it is my favorite deck ever. First some comments about Sensei in the past. After a few events with good standings and lots of playtesting, I wrote this. I'd suggest reading it for ideas regarding a combo control Sensei deck.
Helm of Awakening let's you win the turn you have a Top, Helm and Magus / Future Sight in play. You basically draw your deck, cast a Wish for Brainfreeze and win. I think the Tendrils kill is too mana intensive.
As for your decklist, I'd like to suggest the addition of green to the deck. Simply put, Tolarian Academy and Moxen are the real power behind pumping out a 2UUU sorcery speed spell. Crop Rotation will give you another tutor to let this happen. I believe that the more tutors you can run, the better. You also pick up Fastbond, which is just plain stupid with a Future Sight effect. If you wanted to, you could go in a completey different direction and make it some kind of an Oath-based variant with the addition of Green. This let's you run one or two Magus and reduces it's CC from 2UUU to 1G, making it able to keep up in this blazing format.
As Ben Kowal has posted, any deck not running 4 Duress is lacking something. The format is too fast to not run the full set of 4. I do like black in the deck, I feel it's one of the two base colors.
Problem is the mana base right now. The deck can run dual-colored, yet it only get's better with whatever splash you add. I do think that adding more than one off color is a big mistake when all the Tier-2 decks are running Wastelands. Also, the Helm of Awakening strat may be a bad idea with 9-sphere decklists running around.
Your decklist is a good start, but I think running Library is a mistake, as is not having a full set of Brainstorms and Duresses. I also think you need a faster draw engine, Dark Confidants aren't going to cut it, though they are fun with a Mague in play.