So the Superman Ally TA gives you the ability to make ranged attacks against those w/stealth in hindering terrain?

Yes it does. Ultimates TA does this as well.

Yes, it allows your character to ignore the effects of hindering terrain.

Stealth is an effect of hindering terrain, so yes, Supes Ally gives you x-ray eyes and allows you to see Stealthed characters.

And it can be wildcarded by others as well?

Sure can, also note that moving across hindering with Superman/allies doesn't make you stop. Nor do targets get the +1 DV from characters using Ulti/Supes

You are correct! - Superman TA can be wildcarded

Superman TA is the counter to the Batman TA which seems strangely appropriate

Perhaps, but there are times where Batman is able to hide even from Superman.

SWEET! Man, Batman TA teams are annoying.

Here I have a question on Superman Ally/Ultimates TA.

Crisis Aqualad's Movement Special Power - From the Depths states:

This comes from LoSH Rulebook, page 30, under the title of Water Terrain:

From these two, I get the result that Superman Ally/Ultimates characters shouldn't be able do any ranged attacks, or use perplex, outwit or probability control on Aqualad as long as he occupies water terrain, since these team abilities let the characters possessing them ignore hindering terrain effects, but water terrain is considered to be clear terrain for LoF purposes. What do you think?

Thanks in advance.

Right. because of the way it is worded. Aqualads power isn't countered by Ults/Sups.

Which makes you wonder why Submerge isn't being reprinted since now it is more effective then before (the card was worthless before the LOSH rules).

That's exactly why it's not being reprinted.