>Sheer Force does not negate primary effects such as recoil, stat penalty or status condition for the user, increased critical hit rate, moves that never miss, moves that change power, two-turn moves, etc. Sheer Force will, however, negate all secondary effects, such as reducing the target's stats, increasing the user's stats, or causing a status condition to the target.
No, Sheer Force will not get rid of the confusion from Outrage or the Sp. Attack lowering from Draco Meteor.
Also, Sheer Force causes attacks to do 1.3x more damage, not 1.33.
Source