I wouldn't mind seeing it go to a 3min cd instead of 5mins.
It really isn't as strong as it seems honestly. WW Monks have Touch of Karma which is just as good in terms of stopping damage but also sends all damage back to the attacker. Touch of Karma is on a 1.5 min Cd meaning they can use it 3 times in the same time span we can use bubble once.
Touch of Karma can not be dispelled.