Many might have herd about all the nasty things about soy. When you are vegetarian and doing low carb there are already very less choices and on top of it this. What do u guys think abt it.

I use some soy flour, when its texture is better for what I'm doing than finely ground almond flour. And I use tofu, tempeh, soybeans/edamame. For every bad thing published about soy, you can find something positive...IMO, the jury is still out. So if you aren't allergic to it and enjoy it, eat it.

As for what you can do with soy and ground nut flours:
pizza crust
pie crusts
pancakes
muffins
fritters
thickeners for sauces and soups

just for starters....