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Not only do spells have crits, but spell crits also have different effects depending on the element used.
Cold damage crits freeze the enemy instead of chilling.
Lightning crits add a (stacking) debuff that makes the enemy take 20% more damage per stack (up to 5 stacks).
Fire crits (I think, not sure, since there aren't many fire skills yet) cause burning, which deals a fraction of the total fire damage over a few seconds.
Just to be clear, those effects have nothing to do with spells, they occur on all critical hits with elemental damage, whether from spells or weapon attacks.