When you set this scheme in motion, each other player searches their library for a card, reveals it, and puts it into their hand. Then you search your library for two cards and put them into your hand. Each player shuffles.
I Call on the Ancient Magics is not legal in any format.
Rulings
2010-06-15
You don't reveal the cards for which you search.
2010-06-15
Your opponents each find a card in whatever order they like. They may consult with each other during this process. You'll know what cards they've found before you search.