Of course, that's not where it's ridiculously OP. Where it IS OP is on any non-tank target taking periodic damage. Heroic Blade Lord Wind Step? Lolcocoon will practically eliminate it. People picking up resin on Empress, Parasitic Growths on Amber-Shaper, all trivialized. That's not even covering the fact that it can be used to pre-emptively save people from one-shot mechanics.
Wait... what? It absorbs 2.5 (out of a total of 15) Ticks of the HC:Blade Lord Wind Step Debuff, that's hardly "eliminating" it...
Can't Speak for HC: Amber-Shaper and HC: Empress since I haven't done those yet.
As some1 said is not that OP when used on a tank. Most of the time this CD will be used to prevent incoming damage, not in the middle of a streak of swings/spells from a boss whatsoever. So It will be used on targets at high health if not nearly topped, which makes the extra healing to the hots nearly useless. However it will be strong as a panic buttom when the tank or any player is already low on health. But the extra hot healing overall is quite lackluster, as any target can be topped in 2-3 sec or less if needed to.