That's right, even though it's a white card, the single flashback cost makes this enchantment remover a great option for decks running Quiet Speculation and/or Wild Mongrels
For example, if Strata Scythe's imprint ability ("When this Equipment enters, search your library for a land card, exile it, then shuffle.") triggers twice (probably because it somehow entered attached to Cloud), up to two total land cards can be exiled
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In Magic terms, Absolute Virtue gives you protection from all opponents, which means you can't be affected by anything they control until they defeat it
Also, her ability obviously hints at you getting rid of her hexproof to kill a pesky artifact or enchantment, but it doesnt say it has to be that type of counter