It certainly can work, and its been awhile since I tried. I fear it will have similar issues to Xor decks of just being to slow. However it just may have the tools it needs to be a good deck again, the meta is a bit slow, you can pack enough healing to deal with burn/aggro, enough control to have an answer to anything, and HOPEFULLY Variax can compete with the recent lategame monsters of Wanderer, Finality, Titan, and Stratageos.
One big thing is you will notice I am not including anything beyond six mana in the deck, even going for bender over EMP, because you always want to be able to play and BBS. Course EMP is strong enough to never be a bad pick either, but IDK if it fits here.
Your list is on the rigtht track but its a bit messy with a lot of 2ofs and not enough two drops. But something like this could really have some potential: