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I just helped a friend make a similar deck to this yesterday, let me see if I can get the deck list from him, hopefully sometime tomorrow. For now, you need a win condition other than Burning Vengeance, Guttersnipe works very well for this, you want 4. I would drop Pillar of Flame for Searing Spear, zombies isn't as huge anymore, so spear is basically better. I'd also probably drop the Armored Skaab and the Fettergeist for Izzet Charm and Azorius Charm (forgot to mention, we splashed white for some more good fashback stuffs like Burning Oil and Feeling of Dread). Beyond that, just goldfish it a few times and see what you like and don't like, and tune it accordingly. Not sure it will ever win a Pro Tour, but it will probably be competitive at your local FNM.
I didn't actually go to school today, so I don't have the deck list (freaking cold...). We thought about Goblin Electromancer, but we ended up just wanting more Flashback stuff. We didn't put much by way of creatures in ours, they took up too much space for win conditions. The nice thing about this deck is that it has multiple back up plans; plan A is Burning Vengeance, plan B is Goblin Electromancer, plan C is Talrand, and plan D (which is getting a little desperate, but it can work) is to just burn them out ending the game with Devil's Play. I'm going to see if I can draw one up real fast, brb...
This is (I'm fairly certain) what we cam up with, the land base needs some work, but I'll leave that to you on this one. (Read: I'm terrible with land bases).