-The idea of the deck is being a white-blue control deck. Because we're running Aetherflux Resevoir, there's a bit of focus on lifegain. The first part is Authority of the Consuls and Fumigate to hold off board build-up and aggro games (conveniently also gaining life). Reflector Mage also fits this role, and works with Thraben Inspector, and Cloublazer to provide a cumulative advantage with...
-The suite of bounce spells. Disappearing act lets us pick up creatures and replay them, Aether Tradewinds lets us hold off against things that make onto the board that we don't like, and Eerie Interlude can serve as a fog/protection. Fog itself isn't great, but getting ETB triggers off all our cards is great. And Eldrazi Displacer for its many shenanigans.
-Felidar Sovereign is there as a bit of a solution to an opponent who keeps breaking Aetherflux Resevoir, and is another nice way to win with lots of life while being a reasonable beater himself. Lands are pretty simple with only 2 Inventors' Fair due to somewhat low artifact count, and 1 Sequestered Stash in case we really want an artifact back.
-The sideboard is all about answers. Cataclysmic against anything stalling on the board, Spell Queller for additional counter spell support. Combine both with flicker effects for extra awesomeness. Blessed Alliance against aggro with life gain and creature destruction, and both Fragmentize and Skywhaler's Shot as 1-for-1's.
-And the dream of course, Eerie Interlude away Cloudblazers in response to your Fumigate to wipe the board. Triggers for days.