When understanding this card look to solar shield, it says absorb physical damage into quanta. This card is a spell absorption, when your opponent pays a cost you get twice that in light.
Generate may be a better word to use as it seems people are getting confused. It does not touch your opponent's quanta. My line of thinking was akin to the yugioh card spell absorbtion, each time a spell is played gain 500lp.
I fell in love with the idea of having a card that hurt fractical, discouraged steal without being immaterial (if they steal you gain enough quanta to play another), and was more useful than the reflection shield. I'm not sure that you guys noticed, but the damage reduction includes spell damage.