That was exactly my contention. On turn 1, you definitely don't have an O/E in play. On subsequent turns, you probably avoid playing them so as not to get them destroyed, and in the process you utterly neuter Plunder, which is otherwise one of her nastier cards. Or, if you do play O/Es, everyone puts one out, and only one is destroyed each round, speeding her toward flipping to her less dangerous side. I would give her a +1 on Advanced, no more.
On her flip side, its the first instance of damage that would be dealt each round. So it happens the first time you try to deal her damage regardless of whether she has cards still under her or not.
That is the exact opposite of the last ruling I heard on the subject. Her Advanced text is at the bottom of the card, so by RAW, it happens last, after the damage has been prevented by removing a card. I think this is lame, and if it's been changed I'm glad of it. But it's still only one attack per round - annoying if you have a powers-based heavy hitter like Haka in position 1, certainly, but otherwise fairly manageable. (If it were the first damage every turn, as per her misprinted oversized card, that would be entirely a different story. I would buy that version being worth at least 4 victory points, no question.)