Text (SA): Count the number of cards in your library. Your life total becomes that number.
The number of cards in your library is checked just once when this resolves. [Shards of Alara FAQ 2008/09/23]
As per Rule 117.5, setting your life total is really a gain or loss of life and will be affected by and trigger abilities that look for such. [Shards of Alara FAQ 2008/09/23]
In a Two-Headed Giant multiplayer game, this card will affect your share of your team's total. To figure this, your share is 1/2 of the current total (for example, 4 is half of 8). Then apply this effect (for example going to 20 means adding 16). Then add your opponent's 1/2 of the original total (20 plus 4 is 24). [Shards of Alara FAQ 2008/09/23]