What happens if you use this on a flown weapon? Does it turn back into a weapon and go to its owner's hand (and therefore replace the one that is currently there)?
Given its low cost it makes a nice anti-debuff spell.
Some people are claiming its situataional, but given that it is effective for at least partially countering a wide range of CC effects I don't agree with that myself.
This is NOT situational.
Situational is when a card is only useful in a few specific situations. This card can be used to help in a very large number. Its no more situational than reverse time.
For instance, its good against:
-Poison
-AM
-Non-lethal damage
-Inflatables
-Overdrive
-Liquid Shadow
-Butterfly effect
-Mitosis
-Blessing and other enemy buff spells
-Overgrown Otyughs
... Need I continue?
I count well over half a dozen uses.
I can think of at least one card for each element that this can counter.
Finally, the fact that its upgraded version costs 0 to play means that I could use it in any deck I want.
All in all, I think its a very nice card.