Personally I'd avoid using Divination. It's a great card for what it does, but Gatecrash introduced Cipher and Dimir decks. Since Cipher allows you to cast the encoded spell (keyword being cast) whenever the creature deals damage, why not bring along Last Thoughts ?

It may cost 1 more to play, but it allows you to both draw a card and ping with your Guttersnipes after every successful combat. Delver is also an obvious and amazing choice with Izzet, but if you were to go the Cipher route instead, you'd have access to Invisible Stalker or Incursion Specialist as replacements.

Neither are as immediately powerful as Delver is and each costs 1 more, but they're more efficient with Cipher. Invisible Stalker hits for less, but is a lot harder for your opponents to remove, allowing you to draw more often and hit a free spell each turn, which translates into more consistent damage. Consistent pressure is harder to overcome than random spurts in my experiences.

Basically since your goal is cheap spells, card acceleration, and obviously more spells, I think Cipher is more in line with what you're looking to do. One more cmc isn't a big deal when you can turn one spell and 2 cards into much more, and faster.

guttersnipe doesn't do combat damage, so cipher doesn't work. Curiosity on guttersnipe if you want to draw cards

@ kyledmea: You wouldn't put the Cipher card on Guttersnipe, you put it on a card like Invisible Stalker

Why use chromatic lantern if you're running two colours? Those two spots can be easily filled with something else with more value in the short term. Like Izzet Charm or Syncopate ? Maybe a Think Twice ? Also I think Curse of Echoes is too expensive, its a good card but I believe its overkill in this deck.