This seems fairly balanced to me. It's lower damage than morning star, and targetable, but you get healing and you get built-in flying weapon if you need it. Monolight already would get more damage (though not healing) out of Longswords, so that's not a valid argument against this card.
Your blessing comment is actually already accounted for in current code, as that's exactly how it would work animating/blessing and then endowing any weapon already in game.
The only change I would recommend is to make the flying weapon ability cost an element other than light. Air would be logical. It isn't really needed for balance reasons, but it just feels more 'right' with that change.