Okay, here my own thoughts:
Possibly a dumb question, but...all the people have their magic that's connected to minds and now...BOXY! Rebellion of the magic constructs? People doing incredibly stupid things because they feel nothing can harm them and they're almighty? That they should just curbstomp all other powers and should take over earth? Maybe humans on earth decide these new Ancients are gods (which they already kind of did...I mean, just the sentence from some random thug 'who do you think you are, the mighty Tor?' and then the in the future possibly most powerful wizard's nation Vagus basically declaring Tor their god. And Tor is revered by Tellerand for making the 'miracle' amulets and being seen as pious, so they might just decide that he's a prophet or, again, their god in disguise or something? It's also quite possible that our little immortal kids take over everything and become tyrants, everything controlled by their magic to the point that normal people can't exist without them - which might lead to extremist behaviour.
Btw, what would you do if you had a magical palace and all the shielding and food devices and whatnot you wish for, but what you really want is power over others? Think about how easy it would be for some moon-'natives' to go back to earth and go all 'me magic, me mighty, me rule over you insignificant magicless earthlings'?
Also you should think about this: everyone'd dependent on the people who live on the moon, who descend and make things right none of them could possibly accomplish. They're super beatiful, immortal, seem allmighty, shape the world in any way they please and boss their leaders and high level people around since any captain in space fleet could destroy, oh, a county, within minutes if they're upset with the leadership or maybe dislike the eau de cologne the butler used. The aristocrats of Noram were already scared to death of Tor when he just built a river and then kicked that despicable guy's butt who tried to kill off the Derring kid. What will everybody think of those people on the moon who could push the wrong button and wipe out the earth within minutes? The people on the moon don't need the earth! They can't be bribed in any way, no normal earth born human can impress them and if they wish the wizards could turn annoying people into frogs, change their brains, whatever. Plus I'm pretty sure Tor and Timon will eventually get rid of the Slave-Master genetic traits. There would be rebellions everywhere since just about everyone from the common class has been used, abused or whatever in Noram. And in Afrak they'll probably want to give the men their intelligence and freedom back. The ancients will want to completely reshape the land itself and the people in Soam. Vagus will become a huge country larger than Noram and Austra together that's full of wizards who benefitted from tor's command ability that turns out superior builders and teaching superior builders is pretty much all Tor will care about, aside from making sure everyone understands that every intelligent person can build at least a little. He won't stop until everyone can build. Millions of builders, the most powerful army anyone could possibly imagine, all of them convinced that Tor and the other ancients are their gods.
And Austra? The society they used to have just won't work anymore in the age of magic. I guess there will be a split between young people convinced that magic is everything and technology useless and old people who know that science, especially studying the environment, is still important and of worth.
Plus everything will get worse on the ground while up in space people will be richer than anyone has ever been - everybody will try to get into space somehow!
While in space...well, there will be those with work, something they like to do and those who can't do what they want because everything's already taken care of - of course those will become unhappy. Society always splits into classes, no matter what you call them. The rulers, the rich, the poor. On the moon the buolders will rule everything so the infighting between normals might become a problem?
