The Wheel of Shadows used by Aphrodite IX to make a time base like force field to block all attacks from the Blood Sword.
The Wheel of Shadows used by a fodder angel was able to rapidly age and decay Hell guardian Cerberus. Cerberus is not only functional immortal but has a stated and proven super healing factor when killed by the Angels earlier in the comic.
The Wheel of Shadows used Hades IX shows the AOE time effects to rapidly age and decay all the Cyborg soldiers in a area as well breakdown the metal bridge Hephaestus is standing on.
Aphrodite IX uses the Wheel of Shadows to one show with AOE all foes with aging decay.
Wheel of Shadows can also reverse the age and bad health of others. Restoring them to a younger more healthy state.
Aphrodite IX uses the Wheel of Shadows to time travel back thousands of years to kill the child who would grow up starting the Aphrodite Protocol. However, its unclear if this changes the future in anyway for the user of the Wheel, or maybe just creates a alternate timeline. Its left vague.
Users of the Wheel of Shadows as shown through Sabine are immune to other time manipulating and the time eating entities like Ancient Ones that even the Angelus and all her power was powerless against. Stated to protect even others against time abilities.