Quote Originally Posted by Kalise View Post
Not quite.

The "Risky" teleport spell WAS in fact meant to take her into the lifestream.

With the risky part being, it's not at all certain that you will actually get out again and, if unable to get out soon enough, your soul will just lose all traces and be part of the lifestream (I.e. Dead in the same manner that everyone (Eventually) dies and returns to the lifestream)

Though, there's not really much information about what happens to the physical body during this spell. [Whether it is transported or built anew] it's hard to say with such limited information about the spell and the events when it was cast.
I don't think the information is that limited, and it points to the body being 'carried' in aetherial form. Urianger explains it to us when he first works out that Y'shtola must have used the spell to escape.

URIANGER
The very first that man did conceive to traverse great distances, and the ancient precursor to all methods of travel that utilize the Lifestream: Flow.
The spell entaileth the reduction of the corporeal form into its constituent aether, that the caster might enter the Lifestream, and ride its currents thereby. Unlike the teleportation magicks of modern times, it requireth not a lengthy incantation. That Y'shtola should choose to employ such a spell bespeaketh the need for haste.
[But] know that the scholars of Sharlayan forbade the use of this spell─and with good reason.
The caster hath but limited control over his course. For every mage who came safe unto his destination, another would be set adrift in the Lifestream, never to emerge.
And for Y'shtola's own remarks on the experience...

Y'SHTOLA
A long soak in the Lifestream followed by a long journey... I would not recommend it to anyone.
But rest assured my strength is returning to me. I shall be back to my former self ere long.
Y'SHTOLA
One does not simply “drift” in the Lifestream; it is a constant struggle to hold on to your very essence. The experience has hardened me in ways I can ill explain.