Effect
If this Set card is banished: You can Special Summon 2 Level 8 WATER monsters from your Deck. Their effects are negated, also they cannot declare an attack or be Tributed.
You cannot activate "Xyz Dimension Splash" as a card activation.
The effect "If this Set card is banished: You can Special Summon 2 WATER Level 8 monsters from your Deck" is an effect that activates and creates a Chain Link when it is banished. (It can also be activated during the Damage Step.)
The effect of "Xyz Dimension Splash" does not target.
The effect "monsters Special Summoned by this effect cannot attack, their effects are negated, and they cannot be Tributed" remains applied as long as the monsters Special Summoned by the effect of "Xyz Dimension Splash" remain face-up in the Monster Zone.
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