I can confirm that changing these settings fixes the visual effects issue for the sorcerer ice abilities also.
Hasn't fixed it on mine, and I know a few others it hasn't as well. It's good that it works for some people, though it makes the game difficult to play with this oddness.
ZOS needs to get on fixing this, forcing the game to try and utilize cores comes with a crapton of other issues.
Can also confirm this glitch effects the templar abilities channeled focus, and vampires bane and llikely morphs. Also PC NA but i have a feeling this is a PC centric issue.