Is Memory Deluge legal in Standard, Modern, and Commander?

Memory Deluge is legal in: Modern, Pioneer, Legacy, Vintage, Commander, Historic.

Memory Deluge

Q: What type of card is Memory Deluge?

Memory Deluge is an Instant. Its oracle text reads: "Look at the top X cards of your library, where X is the amount of mana spent to cast this spell. Put two of them into your hand and the rest on the bottom of your library in a random order. Flashback {5}{U}{U} (You may cast this card from your graveyard for its flashback cost. Then exile it.)"

Instant

Look at the top X cards of your library, where X is the amount of mana spent to cast this spell. Put two of them into your hand and the rest on the bottom of your library in a random order.

Flashback (You may cast this card from your graveyard for its flashback cost. Then exile it.)