Haven't played Lion and Dragon, but I do have the book. It has both cleric and wizard (called "magister" in this game), as well as "Cymri" (kind of a bard/spellsword) as classes. The cleric magic is pretty typical for D&D (bless, heal, turn undead etc.) There's just a lot less of it. The wizard magic is heavily based on demonology, so instead of casting spells yourself, it looks like you have to summon a demon and make it cast them for you. They can make magic items and do alchemy as well.
Kind of two questions there:
If you're asking about whether the magic in the book includes real-world occultism a la Aleister Crowley, then the answer is pretty much no. The spell section isn't full of ritual instructions or magical formulae or anything like that. There's a few occult signs in the illustrations, but I read it that the real-world occult stuff is more for flavor than anything else. It's a bit hard to phrase what I'm trying to say here, but my read of the book is "this is stuff medieval people believed you could do", not "this is real magic and here's how to do it".
As far as can it run a political intrigue game? It probably could, but it wouldn't be my choice. You could cut the magic out, but you'd be invalidating half the classes. It also doesn't have much of a skill system. For my money, if you're doing a low-magic, low-combat game, you absolutely need a skill system. Otherwise, your characters aren't going to be differentiating themselves by anything other than their attribute scores.
I know there's an official Song of Ice and Fire RPG out there, but I don't know anything about it. Based on what you're describing, my approach would be to strip the magic out of something like WFRP, Warlock! or Cthulhu Dark Ages. Those are already games that assume that a large majority of PCs will not be magic users, so their character building systems don't rely on it.
