In terms of this game, I think it's simply to mean "Rise Again", instead of the FF6 version. It wasn't even done in FF5 in the first place as a spell... although monsters were allowed to revive on their own accord because of their battle scripts, but that's FF5.
The WaterBug was never exposed to do something like that normally, but now that you mention that tidbit, I could certainly rewrite what that series of monsters do in my hack (I don't plan on changing the Waterbug, it would make grinding too easy that early in the game).
On the other hand, I have yet to figure out why Black Hole doesn't extend it's field of influence when I use it in enemy scripts to target all enemies... I had to use Dispel (which worked out fine) to do the "perfect Wall/Reflect" combo.
