Here it is: I'm too exhausted today to try to translate it, may be someday... But I'm pretty much sure it has something to do with Elven Alphabets, slightly distorted though.

Also there is low-res version with daedric inscriptions available as forums avatar, it's much easier to "translate":
I can guess there's written something connected to Templar class skill lines or general playstile, like daedric letters on Nightblade sigil means "I L L U S I O N S T E A L T H" and Sorcerer sigil has something to do with Conjuration, Destruction, Shock et cetera.

Well i remember seeing a post about where templar got their magic, and apparently there are books in game saying templar magic is mostly from Stendarr.

Maybe its the language of the elnohphey??? earth bones, the divines w/e
The rune itself i dont know

Well, the daedric symbol that Sphinx sent helps me a lot with deciphering this rune. Assuming it means the same thing, I can break down what it is that it's doing.

In the top most circle is a Seht rune, which creates stability and protection in some way, also oddly enough occasionally is used in frost spells.

The rune right under Seht is a Neht rune, this rune negates something, magic, mental state, injuries and so on.

And the largest rune on the bottom, making it the primary is a Yoodt rune, this rune likes to unify things together, or draw things into the body.

So with this all in mind and the context of the rune, I believe what the rune is achieving is that the rune is giving protection and negating either damage/conditions on the body.

there is this too on the banner of Shimmerene, the city of lights - which might show a connection to Stendarr?



but also....wondering when this rune is cast, does the caster use the Daedric language as part of doing so.

....