I've been running a list using both Kairos & LoC, albeit in only a semi-competitive environment, so far I've had my opponent conceed the match.
General - LoC (Arch-sorcerer, Mark of the Conjurer) 380
- Tzeentch Inferno, Fold Reality, Arcane Transformation
Kairos 380
- Bolt of Tzeentch
Gaunt Summoner 180
- Treacherous Bond
10x Kairic Acolytes 80
10 x Kairic Acolytes 80
20 x Tzaangor 360
9 x Enlightened 420
Cogs - 60
Spell Portal - 60 (Or Vortex & Swords for the same points)
I use the Acolytes as screens, and with the cogs on my LoC I normally end up with at least 10 fate points in my first turn, letting me summon a unit of blues to act as further screens. All three heros dish out the MWs, normally using the Gaunt and Spell Portal to take out horde units, particularly ones sat on objectives. Kairos can tie up units with his Chaos spawn and the LoC can normally target more powerful units with a double hit of Infernal Gateway and Tzeentch Inferno (with a Kairos Bolt of Tzeentch to follow up if needed). The Enlightened run around doing there thing safe in the knowledge I can get 6 back with fold reality cast either by Kairos or LoC. The 20 Tzaangor provide a 40 wound unit to tie up enemy units and I normally just use them to control one side of the board.
Works well for me, I don't really miss having pinks as I tend to prefer a 'hit them hard and fast' kind of play style and then grab objectives when they haven't got much left. I'm also toying with the idea of changing the Tzaangor for another unit of 10 Acolytes and a seperate squad of 6 Enlightened but I haven't decided whether to make that investment yet or not.