No, it is SKolo, honest.
It is definitively a K sound
If you (forgive me blizzard) pull apart the game data, it’s full name is
“School of Necromancy”
Shortened to Schol o mance, which someone probably though was a cute play on words
From Blizzards own mouth
It’s officially SKOH-loh-mance.
- Caydiem -
Assistant Community Manager
http://forums.worldofwarcraft.com/thread.aspx?fn=wow-general&t=3813779&p=#post3813807