Nothing to say about the Ethereal Armor , it is on the deck! :D

About the Lotleth Troll , I was wondering if, after he got punched and regenerated, the enchantments would be gone, like as he died and came back. I made some resources and actually no, you don't lose the attached cards, since it don't really die (such as Undying ability). So now it is a real option. I will give it a try. The lack of Hexproof makes it defenseless against exiles and I don't really consider discarding cards to give him counters, I don't have any mecanism to buy cards, but I will give it a try and update here about it. And maybe I will really take off the Deadly Recluse to make two free slots for Sunbond. The spiders are there to make me able to block flying creatures. If I put Gift of Orzhova on anything and save a Wasteland Viper on my hand I can give a free Deathtouch to my flying creature instantly. I will think about it too.

Or you could of just used 1 card slot rather than needing to combine 2 card slots to handle a flying creature, which puts your opponent at a card advantage somewhat. You could of just as easily spent 2 mana for Doom Blade , Last Breath , Ultimate Price , Abrupt Decay , Putrefy , Selesnya Charm etc. The only thing that these cards can't work through are protections and hexproof which are both rare and you can still try to work around via Devour Flesh etc. Wasteland Viper you have to wait and use somewhat passively i.e. what if opponent doesn't attack the way you want them to with a certain creature, you could of just blown it away.

And if you are really worried about flyers outside of Bow of Nylea and targetted removal, you can always use Plummet in sideboard but I don't find it necessary.

With Auras decks, you are entirely investing your deck and banking on the fact you will overpower your opponent with a few powerful creatures, doing your best to protect them while you try to win the game with them so even if they have flyers, if you are hitting them hard enough, they would have to hold them back anyway (unless they of course get removed via targetted destruction).

I think a big weakness in your deck currently is your creature count. You can make up for 4 slots easily by replacing 4 of your enchantments with Boon Satyr , which is a really great card and sometimes looked over...sometimes mostly because it moves at instant speed and the cost is fairly cheap for its effects. The cuts are pretty much up to you depending on where you are trying to go next with your deck, if you want more aggression, cut out 2 Bow of Nylea and 2 of your targetted removal and if you want to retain control, cut 2 Bow of Nylea (I find this card pretty unnecessary when you are running 8 removal spells in an Auras deck, which is a lot to squeeze already) and 2 cards between Gift of Orzhova or Unflinching Courage which is again up to you. I just don't think Bow of Nylea has a big impact in most games and you would need to dedicate 2 mana to even take advantage of parts of it.

Well i could see the way it would work now but you could remove Elvish Mystic and add Avacyn's Pilgrim for white ramp and make room for Blessing and i would remove Wasteland Viper and add Gladecover Scout and idk where you would put it but Trollhide might be another option