For a Coven, you have most of the elements included, except the Frostheart which I think you desperately need. I don't see any value of the Handmaiden and Sisters here (the unit is too small to justify the points), so I would look here for points. An Eagle also wouldn't go amiss.
Give the BSB the Reaver Bow instead of SoM if you want the extra shooting. IMO however, Sword of Anti-Heroes is far more useful, especially if you aren't taking a Loremaster in the Coven.
I agree that a unit of Helms would be better than the second unit of Archers. I'd recommend either 2 x 5 Reavers, 7 Helms, 24ish Archers or 3 x 5 Helms + Archers. The multiple units of bows doesn't really give you much over Bolt Throwers, and you'd be better off with additional board control.
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Lets be realistic, your lvl 4 light is going to be throwing banishment, almost exclusively. The book should be on the Undeath dude so he can force through those all important raise spells when you need them.
This isn't how you play a Coven. The level four with Light is often one-dicing spells with the book, and the other caster (typically Loremaster) is using most of the dice. Banishment is usually 2-3 diced as a threat; the enemy has to pick between dispelling it and allowing 2-3 buffs through, or eating the damage and stopping the buffs. Pre-combat, this is most apparent when the spell split is Banishment + Searing Doom + Spirit Leech; with Undeath, this will look like Banishment + Raze + Raze. In combat, what was Pha's, Timewarp, Speed/Earthblood, Iceshard will be Pha's, Speed, Raze, Raze. While there are circumstances where 6-dicing makes sense, the second caster is only justified if you're using 2+ spells from him a turn, in addition to 2-3 from your primary caster. This is where Book really shines.
Axiem