Ok, I'll clarify with an example :
Dispersing Reflective Shield means you can use Reflective Shield, Solar Shield, Emerald Shield, Fire Shield, etc. in other words any shield in the game, without any restriction on what's in the Grid or not.
You don't have to pick a precise slot to use Nymphs, you just have to sacrifice 3 Relics if you win. If you Disperse for Nymphs, you can use all 12 Nymphs.
The alchemy cards are Quintessence, Unstable Gas, Liquid Shadow, Aflatoxin, Basilisk's Blood, Antimatter, Rage Potion, Black Hole, Adrenaline, Luciferine, Precognition, Nymph's Tears.
Yes, you're still able to spend Relics to upgrade cards.
Moreover, the Bans ban slots, not cards. This means that if you pick and Disperse Unstable Gas, while Antimatter is banned for you, you can still use Antimatter (you can just not pick Antimatter in the first time).
All questions will be answered :p