From what I've tested, the Light aspect does not save you from fall damage, even if that fall damage is not lethal, unsure if its due to where I have the aspect located on my health bar, (Tested with 6 diamond aspects in front of it) The totem aspect does not seem to save you from death if you fall far enough either.
Testing was done on a fresh install of Victus 0.1.13 on minecraft 1.20.1 no other mods besides dependencies were installed.