This can't be used as a counterspell. It will have no effect on spells which were on the stack when it was cast, nor on those cast in response to it.
2008-08-01 • wotc
Abeyance prohibits activated abilities of cards which are not on the battlefield.
2004-10-04 • wotc
Abeyance never prevents mana abilities from being activated.
2004-10-04 • wotc
Abeyance does not affect abilities which are not activated, such as static abilities and triggered abilities. It also doesn't stop the declaration of attackers or blockers.