barring weird stack interaction like Ending the Turn with Time Stop and such
As a double-faced permanent transforms, it's still the same permanent, so any Auras, Equipment, and counters will stay on it
While the mill offered by the previously mentioned Titania is nice, whenever one of your Elementals dies, Omnath allows you to deal three damage to any target
Power level wise the card fits in just right in Modern, as there are a lot of threats which go under the card, and cards like Veil of Summer and Cavern of Souls give slower creature/combo decks enough counterplay against it
Twilight Diviner Twilight Diviner is a strong card if youre into the value reanimate path, offering you a free token each time a creature comes back from the graveyard
If your enemies get any funny ideas about defending themselves, you have a counterspell up your sleeve