Skia, Thoraxis's adopted daughter, is missing. To make matters worse, after her encounter with the wretched Vile Faux, Skia's memories have been taken from her, permanently, and to the point that she no longer even knows her own name, much less her father. To make matters irrevocably worse, a year has now passed, and she remains gone without a trace.

Thoraxis and his friends continue to search for her without pause, though their hopes dwindle less and less with every passing day. Thoraxis blatantly refuses to give up, and his unremitting effort begins to take its toll on his health, convincing his girlfriend, Petra, to try and get him to relax, for a short while at the very least.

Lo and behold, the Theatre Metamorphoses, a traveling theater well known for visiting random villages at unexpected times, pulls in to perform at Ponyville for the month, making it their first appearance in over twenty years. Their leader, the young but enchanting Madam Odyssia Metamorphoses, enthralls the crowd with her cast's singing and reciting of favored tales of yore. The theater's popularity even attracts many characters from out of town, all coming to witness the spectacle.

While they entertain the masses, among the festivities Thoraxis begins to suspect something. His senses, paranoid or not, start telling him that something is off with the show and its cast. Something familiar about their mysterious and enigmatic aura. Something too off and familiar and mysterious for him to be comfortable with...

Ponyville's resident changeling begins to investigate the playwrights and actors, sniffing for any clues as to who they could be, while one, particular member of the theater seems to take some form of interest in him.

Only then does the theater's motto really hit Thoraxis.