As best I can tell, the elemental scrolls are just extra attacks during combats. If you hit the Orcalium (Oraculum, Ormacamicamihammalumlumyulum) during combat, and then you hit the slot that corresponds to the scroll you have (the various torches light up to indicate which you own and which you don't), then you cast the spell and do damage.
I believe, in theory, certain monsters have resistances to certain elements, and perhaps weaknesses, but I have yet to figure out how to determine that.
And look who makes the mispronunciation joke on the forums?! HUH?!