Things which immediately leap out:
Why would you ever spend ten points on a longbow when you can get a whole 'nother Archer for eleven?
The Amulet of Light works in CC only, and is therefore mostly worthless to the Archers.
Why the Banner of the World Dragon? The Banner is great on a big block of PG since magic is the only reliable way to deal with them - but Lions are far more vulnerable in CC, so your enemy won't much care if he can't nuke them. He will be happy that you spent all those points, and denied your BSB magic items, though.
Lore of Shadow, again, great for PG, who have defence, but poor attack. Less good for Lions, who have good attack, but lower defence. Life would seem more useful.
Razor Banner? How often do you encounter 3+ saves? STR6 should be more than enough without armour piercing.
Looking for a friendly wargaming club on the Isle of Wight? Drop me a line.
Sisters of Battle - The Order of Glory Undimmed - 2'500 Points | High Elves - House Cyredeth - 2'500 Points | Bretonnians - The Muster of Sir Jules Estelle - 3'000 Points