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That's a whopping 180 damage for three Energy that Flareon can dish out

Instant Color tag templates(None) Soul Read Choose one Counter target spell unless its controller pays

Circle of Protection: White seems rather weak against a color designed to destroy enchantments, and many blue decks can take complete control of the game before leisurely bouncing a Circle of Protection: Blue (assuming they aren't just decking you to begin with)

So you cant reequip it to another creature to make it unblockable

But if, you have reliable sources for die rolls, and you were going five color dice, why not slot in Dee Kay, Finder of the Lost