Essentially, if you have a full party with all four of these on the board, you can pay one white, one blue, and one black mana to give the Warrior lifelink, deathtouch, and make him unblockable (deathtouch and unblockable at the same time has no real use, but thats still OP to think about)
CLB was an awesome set, and a true sleeper hit
Fear not, I plan to swipe all of their mana rocks to fund my largesse, stealing cards I'll use to steal more cards
Vedalken Squirrel-Whacker's second ability functions only while Vedalken Squirrel-Whacker is on the battlefield
It's basically cheating (or, more precisely: a color pie break) that lets red decks get rid of problematic cards like enchantments and guarantees that its target gets out of sight and out of mind, but runs the risk of replacing it with something even worse