Not really it just reverse the effect of potion. if an ennemy kick you, you still received damage.
I'd like to point out, if it hasn't been done yet, where the true usefulness of that item lies.
If the user uses, say, an Echo Herb on the enemy, the enemy will become Silenced [with a higher hit %'age than actually casting Silence, noless]. And yes, Remedies DO work. Of course, though, if they're immune, they're immune.