This flavour text made me giggle immensely :)

Hee hee.

This guy is really, really powerful, especially for this set. Maybe go "Tap two other untapped wizards you control: Target instant or sorcery card in your graveyard gains flashback until end of turn. The flashback cost is equal to its mana cost." instead. That way you can't go infinite with Time Warp, and cheap control spells like Unsummon or Terror or Remand (or even just Ponder) don't get intensely aggravating. It's cheaper that way, but it also doesn't recur creatures and enchantments which blue probably shouldn't do anyway.

Can't go infinite that easily. And can't go infinite with Time Warp unless you tack on some extra stuff. Its harder to go infinite with this than most other methods I can think of. returning a spell removes it from the stack. So I'll be honest and say I don't see how this goes infinite at all? Its like a super-expensive, but re-usable Venser.

ooooooooohhohohhhhhhhh

I was reading "from the graveyard". Neat card after all.