Invincibility Frames?

I heard Lightning Rod has ^ when launching it, similar to Blaze?

Whoever told you that is a liar. Tested with fireballs in Shyllien and if I release a lightning rod just before impact, I still get hurt. Incidentally, monster fireballs still take 5 seconds to explode after launching, so they didn't get the effects of the magic renovation like they did with the melee renovation.

Or rank Novice too stronk.

My bad. Someone else had said it and before actually testing it fully myself, had assume it upon the fact that it has in fact stopped monsters from attacking me occasionally upon its firing, very similar to magnum.