Personally, I quite like the fact that 5e doesn't give you situation +1s to remember.
What if you got 1 bonus power point when augmenting powers of your school?
Stuff like that, I won't say it's "wrong", it's just not 5e style. Just something to be aware of and not accidentally include.
I don't think you need to make the un-augmented version of the spell "lacking"-- after all plenty of 5e spells can be "augmented" by casting it with a higher spell slot. I do think the unaugmented power should be roughly comparable in power to a spell of the same level.
That's better, but even the term "shield bonus" is a 3.5 term-- though it is understandable.
My 5e experience is mostly at levels 5 and below, so that's just something i've never encountered.
I certainly wouldn't say everything needs to be at the same level as the 5e spell equivalent -- if it is all the same what's the point?
But the spell version requireing a higher level AND concentration means the psionic version is significantly superior-- even when you don't have the levels to match the hour duration.