Advantages:
1. I like the fact that it is so fast and easy to perform, no hand seals needed.
2. It allows for some great combos, especially for us with bios who don't have a great reaction time.
3. I can already see this in a Taijutsu battle, where you can basically allow the sphere to slow the opponent, just enough for you to land that critical hit.
Disadvantages:
1. It can only be used 3 times in battle ;_;
2. It only works in short range, which limits its usefulness.
3. It doesn't necessarily "stop" said jutsu, or techniques, rather just slows it donw a bit, allowing the user to react.
How to use it creatively:
-As I said, in a Tai orientated battle, I would use it to gain that advantage of being able to sense the opponent's incoming move and being capable of countering it. Also awesome against FTG users, I have another CJ that would work pretty well with this. Basically, I would use it when I have very little time to counter, and use this to get a little bit more time o-o