1. You can't use colors on titles
2. You can't put this in SHADOW DORM. Shadow dorm is the dorm for amdins. Next time u random post i won't bother answering and will delete it. There are proper forums to ask the question. /Topic moved.
3. Im not sure since the only time someone used this against me was when i attacked it.
But looking at the effect:
Discard 1 card. Until the end of this turn, whenever you would take damage you gain that amount of Life Points instead.
Send, from your hand or your side of the field to the Graveyard, Fusion Material Monsters that are listed on a Machine-Type Fusion Monster Card, and Special Summon that Fusion Monster from your Fusion Deck. (This Special Summon is treated as a Fusion Summon). The Special Summoned monster gains ATK equal to its original ATK. During the End Phase of this turn, the player who activated this card takes damage equal to the original ATK of the Special Summoned monster.
I think you gain life points from power bond wich is actulaly a great combo.
See the rulings from yugioh wikia:
Discarding 1 card is a cost to activate "Rainbow Life".
"Rainbow Life's" effect is applied to Battle Damage and damage from effects.
After activating "Rainbow Life", if you activate an effect that inflicts damage to both your and your opponent's Life Points, your opponent will receive damage and you will gain Life Points.
After activating "Rainbow Life", you cannot chain "Barrel Behind the Door" to an effect that would inflict damage to your Life Points because you will gain Life Points instead.
If you activate "Rainbow Life" and your opponent has "Bad Reaction to Simochi" active, whenever you would gain Life Points with "Rainbow Life" you will receive damage instead.
Sun Jan 30, 2011 11:24 pm by 
Subject: Can Rainbow Life instead the damage from the power bond to my life point ? 
