According to a strict reading of the rules, this card appears to be nonfunctional right now. I mean, the top part works. But the bottom part seems to be busted.
The related rules, from the rulebook: "Inactive: An inactive card’s abilities do not affect the game and cannot be triggered." "Archives- This is the Corporation’s trash pile. Archives is kept adjacent to R&D. This is where Corporation cards are placed when they are trashed or discarded. Cards in Archives are inactive."
The only exception made in the FAQ to cards being inactive is as follows: "A card with an ability that triggers when the card is accessed does not have to be active in order for the ability to trigger."
The FAQ implies Subliminal Messaging might work, but doesn't specifically say it does: "Subliminal Messaging • When adding a facedown Subliminal Messaging in Archives to HQ, the Corp must reveal it to the Runner."
The only direct implication of that FAQ entry is that if you Archived Memories that Subliminal Messaging, you have to reveal it, unlike any other card you get back with Archived Memories!