Enhancing Elf Tribal with Rashmi's unique abilities makes for a potent combination. Of course, this deck leverages classical elf strengths like mountains of mana for a huge Ezuri, Renegade Leader Blowout. However, it becomes much more flexible by playing most of its creatures with flash when possible and thereby generating huge value through Rashmi's trigger. Even if your board gets blown up, you'll usually have enough cards in hand to still be in the game. Blue offers further synergy with cards like Intruder Alert and Equilibrium, both of which love playing a lot of creatures.
To mitigate the dangers of a boardwipe, the deck packs both protection like Soul of New Phyrexia and haymaker cards like Praetor's Counsel and Genesis Wave that can help you rebuild quickly. Plus, some counterspells for good measure. This remains the biggest weakness of tribal decks of course, so if you have any other ideas on how to resist it I'd love to hear them!
Abother issue I've found is that the deck is hugely susceptible to flying creatures. I'm not sure how to best counteract that. Thornweald Archer can stop a flyer in a pinch, but isn't that great itself. I've been thinking about running Archetype of Imagination which helpfully gives all my elves evasion, but I'm wary of putting too many non-elves in there - the deck already has less than usual for a tribal build, I imagine.