I support a berf to the card.
I think I can address the nerf area of the card to similarly addressing the issue seen with protecting permanents, particularly weapons and shields. A couple suggestions is that a spell card that removes the opponent's weapon or shield, or a creature that can do so with a successful attack. To separate the styles, I feel the creature approach is appropriate for shields, since they are directly involved with each other. The spell can be preferred and stronger against weapons, by making it less situational and hard to avoid by making it capable of removing flown weapons. This would also tempt more synergy involved when using 'indestructible' shields.
To address the buff area of the card is rather difficult, since its situational attributes are harder to generalize like my methods of suggesting nerfs. Raising the DR would make it match that of Emerald Shield | Jade Shield. I'll have to think about this area more.
EDIT: Another dilemma that this card has is, due to the self-counter, a buff might just as easily buff the opponent that uses it to bypass the other. Particularly this means buffing reflectivity is not the best choice.