Thanks for the review,Underscore,it was very enlightening.I'd like to share my thoughts on several things(prepare for a medium rant):
-first,I have to dissagree with what you said : ,on the first page of the chapter on the left we see Kuugo going down and there is some blood flying in the air,noticeably from Ginjou if you look closely,I am referring to the dark spots that look like drops of water,that's actually blood from Ginjou(for example,there is one drop of blood above Ginjou's head to the left),so I would suggest that Tsukishima's cut actually injured Ginjou;
-to be honest,I still haven't understood how they are able to stand in the air,I guess they fullbrought the air to be more dense or smth like this,though I hate the fact that they can walk in the air,only Shinigamis and Hollows should do that;
-Ichigo's face expressions are priceless in this chapter,they range from shock and anticipation and dissapointment and fear,to relief and yet again back to shock and fear and despair(thanks Kubo,your art expresses more than a thousand words the feelings of the characters);
-if Ginjou returned to normal after being hit by Tsukishima,I wonder why the heck did he warn IChigo to watch out for Tsukishima,I mean he could have said nothing and Tsukishima would have cut Ichigo(this makes me think about Ginjou's reasons);
-oh well,I was expecting Ishida to show up,and I also enjoyed Ichigo's rant,which shows some minor character development,Ichigo is not like he was before,when he would just swing his sword,crush and attack,no thinking at all,I'm actually glad Ichigo is now thinking,maybe in the future we'll see him devising attack plans before engaging enemies;
-I wonder what Ishida meant by his words:"I saw what was going on downstairs,rest assured I am on your side."-by downstairs maybe he meant Ichigo's friends who explained to Ishida everything that was going on,or maybe he saw Ichigo's fight,either way I am glad he came to rescue Ichigo but ended up to need rescue himself too,also I think why he told Ichigo "Don't you understand?!",it's like Ishida thought that Ichigo already knew that Ginjou attacked him,which seems a bit weird to me;
-I also wonder why the heck Ishida believes that Ginjou attacked him,to be honest I believe that prior to this point Ishida was not under Tsukishima's control,but rather he was telling the truth and Ginjou trully attacked him,with Tsukishima being nothing more than a distraction and this may be true because of the fact that Ishida simply chose to protect Ichigo from Ginjou by firing arrows at him,if Ishida truly was under Tsukishima's control then he wouldn't have done so and would have attacked Ichigo,though Kubo really managed to surprise me this time,I completely did not expect Ginjou to have been the one to attack Ishida

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-Ichigo and Ishida ended up down on their knees,and now I finally have a theory(maybe a good one)regarding Tsukishima's powers : to be able to activate this ability,he has to pierce the heart of the target since the "heart"itself contains the memories and whatsoever,however now he didn't pierce Ishida's heart,but slashed him and thus I consider Ishida to be "clean" for now(from what I remember,Ginjou,Chad,Inou were pierced in their hearts),so I think that this is another limitation of Tsukishima's ability : it must pierce the heart for the power to activate,otherwise it's just a normal swing of a sword,the more I think about it,the more it seems probable for my theory to be a valid one,in the last chapter you (The Underscore) mentioned a seemingly unimportant fact : when Ginjou went to protect Ichigo,Tsukishima's sword changed it's path and direction,at first it seemed a regular slash but as Ginjou appeared Tsukishima delibaretely changed his attack so that he would "awaken" Ginjou,this also confirms the fact that Tsukishima is Ginjou's underling;
-soooo Ichigo gets a full huge sword hit in his chest(and heart I guess),I guess the next chapter will be pretty important,since the last Ichigo had problems with his chest(Ulquiorra blowing his chest),Ichigo turned into a monster who easily killed Ulquiorra,I expect something similar to happen in the next chapter,or maybe Ichigo will simply die and become a Shinigami(less likely to happen);
-Ginjou ...morphed !?! his own FB with the badge,I wonder if it's possible to merge different FBs in one FB,I think that the badge's original powers(to draw out the spiritual body) have been modified by Ginjou so that instead of drawing out the spiritual body it will draw out Ichigo's own FB;
-I can't help but wonder what are Chad and Inoue are doing right now?!?!They should have seen everything that was going on,they should have heard Ishida and what he said,so I expect (at the very least)that they will question Tsukishima or (better) to help Ichigo and defend him,I mean maybe Ichigo was fighting Tsukishima,but right now the very Tsukishima they hold tear cut Ichigo's friend and Ishida,I mean Chad and Inou must do something for Ichigo the next chapter,I also wonder what the heck are the other members of Xcution are doing;
-,I completely agree with you here,I also think this was all Ginjou's plan and Tsukishima simply had a role to play(remember his words,"It's over for me");
-regarding your first question ,my answer is a simple one : Chad was only affected once,when Tsukishima visited the Xcution headquarter,I believe this since if he gets slashed a second time,his original memories would return,and from what we have seen from Ginjou it seems that after getting slashed twice you still remember the "original"past and also the "changed" past;
-regarding the second question ,it's rather simple,Tsukishima can insert
his presence in the target's past,and from what we have seen it's also possbile to remove
himself from the target's past,his sword is only able of inserting/removing only Tsukishima in the target's past,another theory may be that the sword can insert in the target's past the one who holds the sword itself(somehow this resembles Tousen's Bankai,in which you have the touch the sword to regain your senses)maybe Tsukishima's FB works in a similar way,let's say he give the sword to Ginjou and Ginjou can use it to insert himself in the past,anyway,I hope you've understood my theory(though it's a rather poor one);
-after how this chapter has unfolded,it seems a bit more unlikely that Urahara and Isshin have been working with Xcution,it seems just too far-stretched to assume that all this was Urahara's plan to restore Ichigo's powers;
My predictions for the next chapter (that I do not expect to be true): Ichigo goes down,everything goes dark,he hears a voice,Urahara and Isshin appear,Ichigo is on the brink of death,Isshin strikes his heart with the sword and Ichigo enters his inner world where he sees someone who says "Hello,Ichigo." though we won't be able to recognize him and that'll be the cliffhanger.