Outlook splendid yet tense (6,7)
I believe the answer is:
future perfect
'tense' is the definition.
(future perfect tense is a kind of tense)
'outlook splendid' is the wordplay.
'outlook' becomes 'future' (I've seen this before).
'splendid' becomes 'perfect' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'future'+'perfect'='FUTURE-PERFECT'
'yet' acts as a link.
Can you help me to learn more?
(Other definitions for future perfect that I've seen before include "Utopian prospect" , "(In grammar) the tense descriptive of things that will have been done" , "Tense of verbs" , "Optimistic prediction" , "will have been used as an example" .)