Negate your opponent's Spell effects that target this card. During your Standby Phase: You can send this face-up card to the Graveyard; Special Summon 1 "Silent Swordsman LV5" from your hand or Deck. You cannot activate this effect the turn this card is Summoned or flipped face-up.
Wait, i misread your comment as spellbook of fate,my bad.
Your opponent is able to target this card with life in his graveyard because his effect of 'cannot be targeted by spell' only active he is ON THE FIELD and not in the gy, that's why your opponent is able to target it with life