WK rules that being KO'd does not prevent effects like Constantine, Hellblazer (viewtopic.php?f=10&t=5924) and Deadpool, Jack (viewtopic.php?f=10&t=2169&p=4818) from carrying on. It is clear from these rulings that the effect does no "active" check on their creator to fire, however, it does not rule one way or the other for when their character text is removed. In example:
1) Player A begins his turn, and before the draw & clear step Player B uses his Constantine, Hellblazer naming Gobby.
2) Player A draws and rolls Prismatic Spray, Lesser Spell and Green Goblin, "Gobby". He activates the Spray, wiping out Constantine's text.
3) Player A then fields Gobby. Does Gobby deal ability damage, and is he able to attack?