a nice throw-back to the last codex, but overall i think he's a little cheap for his abilities...
a few things;
- when making a character, break down all his individual rules/equipment. so for example, being a chaos lord, start him out with the base cost of a chaos lord. next, look at the costs currently in the codex for a power toy + better invu save (MoT). you can get away with trimming a few pts off the actual cost of these two upgrades, but overall, let the current pts values pretty much stand...
- 150pts is waaaay too cheap for basically giving him a 24" zone of 'and they shall know no fear!' (again, this is why you need to state radius or diameter of his range - exploitation is something we guardsmen do for a living!

)
keep in mind that the demagogue of old was pretty much a shorter 'pass all moral check' ability... as it's an old rule that many chaos players are more familiar with, i'd try and stick to that.
- again, 150pts for a 3+/4+ save model which can't be insta-fethed is cheap... (again, for the old version it was 135 pts for just the crozius + d.rune upgrades which did the same thing for the power armoured version.)
- i'd also give the acursed crozius back it's personal icon ability too as really when you think about it, the crozius
is an icon of true devotion to darkness!
overall i like the stuff! especially seeing as i'm now doing my own word bearers off-shoot as i can't get the requisit ork models in time for an upcoming tourny!
cheers!