This was a very well-written, unexplored backstory. I love how you captured all the characters, their motives, and their feelings. What I loved the most was Ponder's show of loyalty. That's one of his best traits showcased in Unseen Academicals, and I think you depicted it wonderfully here.

I noticed some minor typos, but they did not detract from the story or your characterization.

Man i love stories about the wizards. They're mah favorite characters :3. Also, I didn't know that Ponder could actually do magic! I always thought that he was just in the series as a completely theoretical person, but that emotional flare up was pretty awesome!

Great story - I've been wondering about how they were recruited since I read the book, and I think this works really well.

Oh, qhat next I wonder.. Please continue.

This is beautifully written, and a thoroughly enjoyable read. I think the voices of the characters were captured perfectly and even expanded on a bit, as with Ponder's wonderful emotional reaction. If Mr. Flemging's startup fails he can always start a second career in PR - the little guy really knows how to make a pitch! The only question that remains is...what was in that stew the Dean ate at their meeting, and why do I have the feeling it was menudo? :p