He believed in the whole ancient Aryans thing, and that these ancient Aryans were descendants of the Hyperborans (mythical far Northerners) who were basically bringing "Light" to all the darker southern races (who he believed were just humans from earlier cycles which had devolved farther) which they did by conquering these people thousands of years ago. He believed metaphysically in the concept supposedly taken from the ancient Aryans of them representing the masculine, Solar, virile, heavenly force of the divine, or the forces of Light, Truth and order, fighting and conquering the forces of darkness, chaos and subversion, represented by the southern "sublunar," "telluric" people which could be classified as feminine and earthly relative to the latter. This establishes a pretty clear hierarchy imo. Although of course during the Kali Yuga one could argue that this is all messed up, and I think that is what he believed, and so as a result he wasn't necessarily that caught up in the issues of race like the Nazis, although it was still extremely important to him, but more in the sense of the "race of the spirit" as you have said.
I don't think he disavowed Revolt, which was his foundational work that he consistently revisited. You are probably thinking of Pagan Imperialism, because I believe he disavowed aspects of this, specifically the virulent anti-Christian sentiments. He warmed up a little to Christianity as he got older.
Revolt is a very interesting read if you are into the esoteric. It is more esoteric than political imo. The first half is a morphology of what he calls the "World of Tradition," which delves into all the rites and initiations and general spiritual views common to the great ancient civilisations, while the second half is basically a metaphysics of history. It is very far from some sort of ultrafascist, jew-hating propaganda many people are probably expecting. Evola is an extremely misunderstood author.