No, 795leg ring at 110 will most likely provide something like 3-4% dmg increase, instead of 44% at 100.
It'll suffer a worse fate then the cloak, the cloak lasted slightly longer due to 3 secondary stats that were pretty high for its budget, the ring does not have this and in most cases has bad stats for your class. Add to that the easy obtaining of 800+ rings with proper stats and its doomed to stay at 109 and below.
Edit: Forgot to mention they'll probably make its on use effect not usable at 110 like how the cloak won't proc at 100+
There is a 850 epic ring being sold by a npc in dalaren for 50k. That will likely be your pre raid bis ring.
I said decent, not BiS. Also, 15% of your stat, with stats being lowered, dunno how much better the pre-legendary ring is compared to legendary, unless you play 18+ gem slots in TW. The legendary currently favors classes who can deal massive dmg in that 15 sec window (like Destro Lock, which i play). Also, who knows how classes are going to be played,regarding TW, in Legion and after it...