Type of reflection of worth involving famous boxer pursued by periodical (7,5)
I believe the answer is:
'type of reflection' is the definition.
'worth involving famous boxer pursued by periodical' is the wordplay.
'worth' becomes 'virtue' (virtue is a kind of worth).
'involving' means one lot of letters goes inside another.
'famous boxer' becomes 'ali' (I've seen this before).
'pursued by' says to put letters next to each other.
'periodical' becomes 'mag' (abbreviation for magazine).
'virtue' going around 'alimag' is 'VIRTUAL IMAGE'.
'of' acts as a link.