The new items seem a little unbalanced to me(possible fixes).
After looking at the new items/changes, I have to say that most of them are a little off to me. I want to go over the items and who they will potentially be strong on and how it will affect the game.
Spellbound Orb: While I do like the idea of a new item that scales like Archangels Staff, I can't help but feel that the stats are a little out of tune, At max stack, you get a total of 100 ap (+100 active for 8 seconds) 10% movement speed (+100 % decaying ms over 8 seconds) every minute. In theory, item fixes a lot of ap scaling problems, but maybe we should rethink the power of the active part (especially movement speed).
Best champs that benefit:
and maybe
, These champs benefit mostly because they have playstyles that rely on movement speed,wether it is romeing or kiting.
Lost Chapter changes/Itemization: I really like this one mostly because this now means I can hit my power spike sooner and build depending on what the team and I need. It is also good to see more CDR split between items now as well as being able to get items sooner(lower costing items to help start the build). The only thing I think may need change is the amount of mana you get from the items. Not sure if it is too much, but at the very least this will cause mana flow band to be looked at again. Most AP users benefit from these changes so I won't say who will and won't benefit because it mostly depends on role and playstyle.
Liandry's Torment: This is an interesting one, I like how the item is more in line with burning down tanks, but just by looking at the item I can see the potential for this Item to get abused. I could see
becoming stronger than ever or possibly a
going top and rushing 
and being nearly unkillable in top or JG while burning the whole enemy team just by being near them. A recommendation would be to give Abyssal Mask the New passive for Liandry's and so they can't use both passives.
Morello: Overall a good change, the item is no longer overloaded with stats and is now an item with a goal of shutting down healing without catering to all AP champs.
Champs that will be affected by this(mostly negatively):

Twin Shadows Return: Just Thank you
Small changes: overall decent tweaks that make ap items healthier....and create more 1 shot/1000 AP Thumbnails
So these tweaks are really good but a few definitely feel like they need some balancing (or possibly the item users).