This sounds wonderful, and I'd totally support this. As you mentioned, not only does this fit Lux's theme perfectly, it also complements her support playstyle, and would more generally cement her niche as the most utility-oriented artillery mage out there. I'd be happy to see Prismatic Barrier provide vision on travel, since it often gets thrown onto whichever enemy Lux is attacking, despite it doing nothing, and it might be interesting to have Illumination itself live up to its name and reveal marked targets, though probably for less than 6 full seconds.
As others have mentioned, though, Lux isn't in too bad a spot right now, and she might need to be toned down elsewhere to accomodate this kind of change. Personally, I'd advocate toning down the damage on Lucent Singularity and/or Light Binding, and increasing Illumination's damage by the same amount, which would leave her ult combo unaffected, but would give her less poke in lane. Now that Light Binding roots for the same duration on both targets, it might be better if its duration scaled with rank, i.e. from 1 to 2 seconds, rather than 2 seconds at rank 1, which is pretty strong.