LankeOnLuck

I'd change "Bred for the Hunt" for "Fathom Mage" instead. If you're dealing damage to your enemy by turn three in a evolve deck, you're already hitting hard. If you're hitting hard, then you are logically speaking just winning. Fathom mage might cost 1 more mana, but it is a much safer choice for getting those cards back in hand in case the enemy wipes the board or just to get more cards to spend your mana on. Bred for the Hunt is what I would call a "candy land" card. A card that makes you win even more when you're already winning and doesn't help with recovering from losing.
Those are just my 2 cents :)

Oh, okay

I'm trying to figure out two things. 1) what you're spending the red mana from Radha and 2) why you have 4 of them. She's a legendary, you can only have one on the field at a time :|

Why do you have more forests than swamps? You have more things that costs black mana and a lot heavier casting cost from black.

You're back :D
This budget deck looks like fun. Especially with one of my favorite cards, Wild Guess. "no guts, no glory"

Ok

"I play nevermore naming... DOOR TO NOTHINGNESS!" you'd need a sideboard for things that could remove the door. Or just alternative ways of winning the game :P

Add the Bloodbraid Elf with better artwork ;)

Why angelic voices when you could just be running glorious anthem?
Also, remember that coat of arms works on both your AND the enemy's creatures.

If I were you, I'd add some way of getting black mana, just something minor so you could cast "Away" too :)

Since you didn't know such simeple things as that, I might as well tell you some strategies that you could use with your current deck, though I highly suggest that you go for either mill or running people over, not both.

Merrow Commerce will be put on the stack at end of turn, so first you can mill them, then they get untapped. But if you have two, you could mill them, let one of the commerces untap your dudes, mill them again and then have them untap once again.

Merrow Commerce can be tapped as part of the Lulmage Mentor's tap ability to counter a spell.

IF you decide to get the Merrow Reejerey, you can choose to play Summon the School with the reduced cost from Stonybrook Schoolmaster (let's say you have 3 of them to reduce the cost to 1 mana). You play the Summon the school, paying 1 mana for it. After that, with Merrow Reejerey's ability (let's say you have three of them as well) you untap the land that you paid summon the school's cost with and two of your creatures. You tap 4 creatures to get it back to hand (tapping the 2 merfolks summoned with it too) you pay the cost, get 2 merfolk and untap 2 of the merfolks created this way. It creates an infinite combo that gives you infinite number of tokens that can all be tapped to completely mill your enemy down.

If you have Wanderwine Prophets and Stonybrook Schoolmaster, you can attack with Wanderwine Prophets (assuming you have some way of making him unblockable) and somehow get the schoolmaster tapped that turn (either by attacking and having him not die or some other way. You figure it out) and deal damage with the Prophets. Now, you sac the merfolk you get from the schoolmaster and get an extra turn. Next turn, you attack with Wanderwine Prophets once again, get the schoolmaster tapped and sac the spawned merfolk again. This also creates an infinite loop, giving you an infinite amount of turns.

actually, it doesn't Stonybrook Banneret doesn't actually reduce 2 cmc if they're bot merfolk and wizard.
http://gatherer.wizards.com/pages/card/details.aspx?name=stonybrook%20banneret
expand and read the rulings on the bottom of this page. Get your facts straight before going all defensive on me.

There's also a couple of cards that I don't like in this deck. They are the following:
Deepchannel Mentor. You'd want some islandwalk lords if you want your stuff to be unblockable. This only makes roughly half of your creatures unblockable. Also, if you're going for merfolk mill, you'd not want to attack anyways, so it's only ever going to become a 2/2 for 6 at best. There's no reason for you to try and kill the enemy in two different ways, it's usually just better to attempt one since merfolks don't have any mill aggro cards like Jece's Phantasm.
Fallowsage. It's a 2/2 for 4 (which is pretty bad) and although he does give you a card when he gets tapped, you don't have a good way to constantly play those cards. If you really like him and want to run him, you'd want Merrow Reejerey (which is, btw, a great addition to ANY merfolk deck! It's a lord that gives you control over permanents. you could untap your lands or creatures, tap the enemy creatures or lands, or in multiplayer, you could untap your allies lands/creatures!)

I'd also consider removing the drowner initiate completely and changing the Aquitect's Will for spreading seas. Spreading seas makes a land permanently an island, so it can't be used for anything else that is not an island. If you're playing against a 2 colored deck, you'd wait for them to drop their 3rd land and just use the seas on their land that they have the least of. This way, they might end up not be able to play anythign at all! (has happened 70% of times that I've done it) although, you'd want to sideboard the Aquitect's Will against enchantment hate and single colored decks.
Add some Wanderwine Hubs. They're waaaay cheaper than the fountain that you currently have, and the only drawback is revealing a merfolk card in hand (woop-dee-doo).

If you want ideas for a merfolk deck, you could look at my merfolk deck. I'll link it at the end of this comment to make it easier for you to find. It's a midrange aggro deck, though. I'm not sure what this deck is supposed to be, it it's mill, I also have a merfolk mill deck on my profile (I love merfolks :D) but I do not own any of the cards from the mill deck and thus can't tell you if it's good or not.
For the aggro deck, I own (almost) all of the cards listed there. (Just missing the Door of Destinies, 2 merrow reejereys, Stonybrook Banneret and Halimar depths mostly.) and it's been working out great this far! Even if I am missing some cards to make it stronger. I might change it a bit to fit my playstyle (I currently have ponder in the deck and some sejiri merfolks to make up for the cards I don't have). If you have any question on merfolk decks, though, you can always ask me whatever you want to know!
http://www.mtgvault.com/lankeonluck/decks/high-tide-merfolk-aggro/
http://www.mtgvault.com/lankeonluck/decks/whirlpool-merfolk-mill/

This looks pretty nice ! I've also been thinking of making a ninjitsu deck, very inspiring deck :D

I'd suggest Door of Destiny instead of coat of arms. Imagine playing against another tribal deck with removal spells. Yeah. Wouldn't be so fun to have one of your cards boost their army up more than it boosts yours up, would it?

Best. Deck. EVER. I seriously was hoping to see a merfolk deck here :/ I just like seeing how other people build merfolk decks so that I can implement it into my decks i it seems to work better :(

I wouldn't take bred for the hunt. Gyre sage is a lot better. Look at it this way: If you're dealing damage to him, you're winning. There's no need to win even more. The Gyre sage on the other hand helps you draw those cards when you can't deal damage to him, thus not winning -3 Bred for the Hunt
+1 or 2 Gyre Sage
+1 or 2 more undying creatures. Depending on what your mana curve looks like, you'll be taking a different undying creature. I'd probably just go with some additional strangleroot geists.
Also, cool trick you can do: Use Rapid Hybridization on your undying creature to get a 3/3 and get a +1/+1 counter on that undying creature + evolving any low p/t creatures. It's especially effective with Stragnleroot geist, as you often times get a 3/4 flier, 3/2 haste and a 3/3 blocker on turn 3.

It doesn't matter, it's not a targeted spell, so it will, in fact, turn Emrakul into a 2/2.
Protection works as follows: Can't be targeted, be enchanted by, be blocked by, be damaged by whatever it has protection from. The Ixidon doesn't target it with the ability, it simply states something that happens.

This looks like a lot of casual fun :D