That would be more confusing because people will think they are getting another 150% spell damage on top of the +150% they think they already have. If every upgrade is +50% there's no question at all that it's adding 50% more damage. They wouldn't give you a trait that does nothing, so there's no question that it stacks.
Once you already get the trait though you should be able to hover over the icon on the left and see the combined stats of all the stacked traits in that line.
Evoker: +150% spell damage
-----
Evoker 1: +50% spell damage
Evoker 2: +50% spell damage
Evoker 3: +50% spell damage