That chapter was good thought it felt really short. And Erza becoming a kid is that real? What the hell happened it must be the power of the flame probably, even thought it is frozen it might still have some of his powers. I don't think is some king of attaching magic, since you have to be idiot to make someone adorable to fight him. Hahah but the fun part is yet to come, adolt Erza in kids body that will be hilarious. I hope at the end everyone to become kid like, and have fight for the sand box that would be fun to see.
But if we think about it a magic that makes your time go back? Am I the only one who sees this as a return for Ultear? Wouldn't surprise me, although she had a lovely farewell, Mashima does rarely kill any of his characters. I can't see why else he'd introduce this phenomenon now, if not for that. As for the rest of the chapter, just building hype, but nothing else really happened, although it did make me laugh when Happy and Charle were imagining Erza questioning the frozen Giants lol.
But if we have to be serious FT better get a grip of themselves and beat those treasure hunters and their weapons because they have Minevra and company coming their way. Maybe they will join forces against Minevra .