You aren't missing anything. I'd much rather have a unique addition to our spec that makes our playstyle not only more interesting and visually stimulating, but more challenging. Blizzard split our mastery with our pet's damage, I don't want it to be a mindless waterbolt caster.
Part of me is hoping that they recognized Frost always had a dry spell when frozen orb and freeze weren't up.
And I'm not sure what you mean, Frozen Orb casts out frostbolts (at least that's what the tooltip says), and they use the "frostbolt" proc chance. But I see what you mean, they'll have to clarify the 4 piece bonus. If it's just from frostbolt casts....that's a pretty bad 4 piece for frost.
I would love to see a frost 4 piece that reduces the GCD on ice lance by .5 seconds or something. That would add more fluency and eloquence to the new barrage of FoF charges.