What happen if you use Ironflesh (Alteration) + Lightning Cloak (Destruction) in matter of special effects, will I not see the cool looking effects of Frost\Fire\Lightning Cloak if I use Ironflesh or higher armor skill from (Alteration)? As Ironflesh, etc has it's own special glassy looking effect on you.

Why don't you cast both to check? With a dunmer you could start a new game and do it in a couple minutes... run to whiterun, buy oakflesh, cast oakflesh and then use the once a day power.

I imagine you will have a blue hue that is barely visible because of the inferno of fire or storm of lightning surrounding your body.

You get both the glassy/outlined effect of Ironflesh and the lightning emanating from you that comes with Lightning Cloak. They don't seem to override each other, and it doesn't look like it matters which you cast first.

You become awesome, that's what.