Recall being all right, always being retrospective about it (6)
I believe the answer is:
revoke
'recall' is the definition.
(thesaurus)
'all right always being retrospective about it' is the wordplay.
'all right' becomes 'ok' ('ok' can be a synonym of 'all right').
'always' becomes 'ever' ('ever' can be a synonym of 'always').
'being retrospective' is a reversal indicator.
'about it' is an insertion indicator.
'ever' written backwards gives 'reve'.
'ok' put into 'reve' is 'REVOKE'.
'being' acts as a link.
(Other definitions for revoke that I've seen before include "(In card games) fail to follow suit" , "Cancel; not follow suit" , "Withdraw or cancel, say a licence" , "Officially cancel a decree" , "Annul, rescind" .)