Here's a spell from the last system (even though you said the new system is more specific):
ka(rom)|om|pan- A very subtle effect, this spell makes everyone in the area more aware of the earth around them. This allows anyone to walk with sure footing even on the rockiest of paths, or to climb anything short of a sheer cliff face.
And with the released definitions we know this is earth(fire)|sense|area, but it seems to only be using fire in the way that "They told me I could be anything..." used it; as the combat related attributes of a person. However, it could be so much more.
- Everyone in the area (or just you) feels the great heat deep, deep below...
...experiencing incredible and unreasonable fear of being instantly incinerated.
...being distracted (all the same) by the incredible mass of flow and power.
...[
Aside] and is warmed by it, becoming immune to natural cold(s).
-[
Aside] Everyone in the area (or just you) can sense all the (precious) metals in the earth below them.
Not only is there the symbolic ambiguity in the element itself (providing many possibilities), there is also the gramatical ambiguity between effect and target (is it "this is sensed", "this may sense", or "this is a sense"?), possibly quadrupling the possibilities. Reinterpretation can either be exactly that (you think of a new aspect of a word and research for it specifically to see if you're right), or it may happen when trying to use the above spell while looking into a lava pit and having an epiphany allowing one of the other possible effects. So it's more part of the wizard's mind, knowledge, and beliefs rather than complete conscious control. This means that wizards researching spells for the first time might not come to the same conclusion as other wizards, just like in real research and analysis. This also means the powerful wizards of the academy would be those who can consciously change what they believe a word to mean (probably using that 1984 doublethink, explaining their inconvenient eccentricity).