They can indeed cast upper level wizard spells including: Telaka, Shock of Magic, Strike of Solusek. I will update later tonight after I go kite there.
They also cast high level wizard nukes, such as, Agnarr's Thunder on me I'm nearly 100% positive. I'm sure they'll cast Strike of Solusek too. Nice to have a bard in the group so that you'll mostly resist everything.