The second activates when you use the first, creating a 1/1 Spirit creature with flying whenever you exile one or more cards from your hand or battlefield
Loyalty represents that Planeswalker's commitment to helping you out and is used as currency for activating that Planeswalker's abilities
Elite One limits you to the Fortress corresponding Energy type
Land Spinerock Knoll Hideaway 4 (When this land enters, look at the top four cards of your library, exile one face down, then put the rest on the bottom in a random order.) This land enters tapped
Unlike most of these effects, you don't have a full round to answer it like you could with, say, Epic Struggle or Revel in Riches which will give most foes enough time to put together an answer to your win-condition, or kill you
He'll talk about The Witcher all day.