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"By following the law, the Republicans blocked the Democrat's memo that would have projected all blame onto Trump. "

As I read the rule:

The committee has not voted to release the leftists' version of the memo.
If the committee does so vote (and, I believe they should --- eventually) President Trump will have the right to object to it.
There will then be a five-day waiting period before the dem version can be published.
That means that any release of the dem version -- as things now stand -- will be a violation of House rules -- unless the above, drawn-out delay process is initiated by Committee vote.
IF Schiff-for-brains -- or anyone else -- publishes the Dem version before the above process has been allowed to operate -- will the member who released it be subject to censure by the House?

(Appears to me that Schiff-for-brains has got himself into a "catch-22 'gotcha'" position... LOL!!!)

You've got it generally right.

(4) The Committee on Ethics shall investigate any unauthorized disclosure of intelligence or intelligence-related information by a Member, Delegate, Resident Commissioner, officer, or employee of the House in violation of subparagraph (3) and report to the House concerning any allegation that it finds to be substantiated.
(5) Upon the request of a person who is subject to an investigation described in subparagraph (4), the Committee on Ethics shall release to such person at the conclusion of its investigation a summary of its investigation, together with its findings. If, at the conclusion of its investigation, the Committee on Ethics determines that there has been a significant breach of confidentiality or unauthorized disclosure by a Member, Delegate, Resident Commissioner, officer, or employee of the House, it shall report its findings to the House and recommend appropriate action.
Recommendations may include censure, removal from committee membership, or expulsion from the House, in the case of a Member, or removal from office or employment or punishment for contempt, in the case of an officer or employee.

There is another brilliant and interesting Trump move in this chess game. The Nunes summary (it is a summary, not a memo) was reviewed for accuracy by the FBI. As I understand it the FBI was also asked to weigh in on classified content.

I think we should expect the Schiff rebuttal to undergo the same scrutiny before its release. I am guessing the Schiff document won't fare as well.