I had a couple problems with it.
First of all, "postmodern magic" to the exclusion of anything else felt extremely gimmicky and hard to justify to me. You expect me to believe in a world where obsessively watching reruns of Three's Company will give you magic power, but a dude who happens to be obsessed with, say, voodoo rituals or Catholic dogma is just out of luck because the latter two aren't wacky and hip and "postmodern" enough? Why?
Second, adepts and avatars don't mesh very well. Conceptually, cosmologically or in terms of playability (incentive to associate and work together). They seem like constructs from two different occult conspiracy games that were rather clumsily combined. One or the other would have been better.
Finally, what the hell do you DO? A good RPG needs a reason for whole groups of PCs to form and persist. D&D adventuring parties, Traveller freighter crews, Shadowrunning teams, etc. There is very little real reason that a group of adepts from varied traditions would associate in the long term, and there's many reasons why ones of the same tradition wouldn't associate much at all (competition for charges and strongly-clashing views on the nature of their mutual obsession, primarily).
Finally, it's way too little cleverness spread-out over way too many pages. Shit like Pop Rocks as spell components is novel the first time, but the hundredth time? Not so much.
Anyway, that's my spiel. Peace out.