Text (5th+errata): Choose one - Counter target spell if it's blue; or destroy target permanent if it's blue. [Oracle 2000/02/01]
You can target any spell or permanent, it need not be blue. It just does not do anything unless the color matches. [D'Angelo 1995/06/09]
You can use Sleight of Mind after announcing this spell to change the color word and make it do something on resolution. [D'Angelo 1995/06/09]
The decision to counter a spell or destroy a permanent is a decision made on announcement before a target of the proper type is selected. If the spell is redirected, this mode cannot be changed, so only targets of the selected type are valid. [WotC Rules Team 1995/09/22] See Rule G13.13 on Modal spells.
Note - Also see Modal Spells and Abilities, Rule G13.13.
Note - This card was of type Interrupt and is now of type Instant. [Oracle 2000/02/01]
