Aside from the coding mistake that amplifies the percentage reduction/addition of stats, there could be more changes added to make races more balanced or to make some interactions make sense.

-Lihzards should not get the sluggish debuff when nearby a star in a bottle(The Sun IS a star.) And should not be affected aswell when wearing the solar armor(You have the power of the literal sun.)

-The healing turrets of the Lihzard should actually target players, with it prioritizing the nearest player.

-Fluftrodons should gain a damage increase and speed when near painted tiles. The more pain and color varieties, the longer the effect range is.

-Dragonkin whould have an obsidian shield effect at the start(Besides the armor effect it gives.)

-Kobolds and Vampires should not get the sunlight debuff when wearing armors that covers the avatar(Except solar armor, which will always make them in the sunlight.)

-Stronger abilities whould have a cooldown. Especially when they give immunity frames(Mushfolk), or have strong damage(Wendigo.) Abilities should also not give access to areas not yet supposed to be entered(Again, Mushfolk.)

-Lihzards whould be able to remove their contraptions with the tertiary racial ability button(Removes the most recent one.)

-Lycans' abilities should not overlap with Tabaxis(Which is recalling into a recorded point and should not affect enemies(It is both useless to make enemies go back to where they were and it also makes multiplayer unbearable.) It is better that it records their health instead and puts it when rewinding. Second ability should be changed so that Lycans can put a prediction in an area. After 10 seconds of charging, the prediction area will activate for another 10 seconds. If an ally or you were to die in that area, they will instantly respawn to their spawn point.

-Merfolk should have a magic amulet at the start that makes them breathe in air.(They already can't use abilities out of water.) This is especially helpful for underworld trips.

-Skeletons should no longer be able to tranform into a ghost, but now will teleport instead with full health into a random bonepile they have placed. That bonepile is destroyed and is given a long cooldown before being able to be activated again. His debuff should be a 40% minus to health instead of a minus 50% in endurance

-Vampires should just be able to life steal through melee weapons instead on relying for their bat tongue. And will also gain increased regeneration during a blood moon.

So far that is the only suggestion so far. As much as I like this mod, I cannot say that it is perfect. It is far from such, however with care I do believe this can become a very good mod for role playing Terraria.