Interesting idea, I like it.
It definitely needs some further tweaking. Some thoughts:
On the buff side, you should definitely nerf aether. It is In-Element and mono-aether is strong enough.
This with 8 pillars and a dragon will give +16/8 for 3+8
trippling the atk. Thats the value of 4! SoWs. I'd suggest +1|+1 or even +1|0 since immaterial gives some protection.
I don't like the atk reduce on gravity. How about +1|+6 but loses attack this turn? Could work nicely against stalls, esp. SoSac keeping its benefits with dolls and catas.
+2|+1 is very strong on air, since the atk can easily be doubled. At least keep them squishy with +2|0
The nerf side is hard to balance since it depends strongly on 2 variables: No. of creatures and no. of pillars.
It doesn't too well against masses, and killing a single creature this seems to be overkill.
Light seems a bit stronger, straight -2|-2 should be fine. You have enough delay effects w/o it.
Fire doesn't protect itself, so -3|0 doesn't fit its theme. I'd like 0|-2 or even +2|-3.
Finally, I would switch upped and unupped versions, CC seems to fit better into unupped meta and buffing more in upped, see chaos seed.
I really like that you can use both versions for their different purposes simultanously. I enjoy cards that don't become strictly better upgraded.
Overall a nice idea with lots of potential. The versatility in different decks is great.