Well based on some changes this might be a little differently approached. Although, since the tool tip only says allies, this might be diff in live or even in Beta but for now let's assume this is usable on you too.
Glyph of Death Coil as worded right now and if usable on yourself, would be great not only in PvE for tanks (know a big magical hit is inc and AMS is on CD? spam this for a bubble), but in PvP it might replace Lichborne for the healing purpose at least. Yeah you would get rid of the immunity to charm fear sleep, but maybe the decreased time between grips along with the slow on the enemy would help balance that since you have yourself a bubble, it may not be a heal but it may be enough of a bubble to give you time to close in and get that last attack in.
I agree though Frost with Death's Advance and Runic Corruption has got to be scary... combine that with the 20 sec grip with a slow, and then the 90 talent of Remorseless Winter.. Depending on the situation that could lead to a huge nuke on a target.
Then again, that does have to balance it out with losing the immunity, with AMS always giving RP, spamming DC on yourself could possibly be a huge bubble when facing a mage. Bah, I want to test this out now.