The only creature in the game who uses this powerful skill is the dragon Glint. She uses it as long as her health is above approximately 90%. Removing it before Glint has taken some damage is futile, as she will reapply it right away.
Inspired Hex and Revealed Hex will not be replaced by this skill, but you still gain the energy from those Hex removals. Since those two skills do not have actual recharge times, you can spam Inspired or Revealed Hex all the time when facing Glint.
If the critical casters in your party space themselves apart and away from Glint before picking up the Dragon Egg, they will be safe from this dangerous hex.