Text (LG+errata): All damage that would be dealt this turn by target sorcery spell is dealt to that spell's controller instead. [Oracle 2001/08/24]
If used on a sorcery like Hurricane which does X damage to multiple targets, it will cause that player to take damage equal to the sum of all damage inflicted by the spell. Ouch! [Duelist Magazine #2, Page 9]
Extended tournaments (see Rule 913) have always banned this card.