There was talk of it being involved with the cloak quest, which would be neat. When you get the final part of the cloak upgrade, it would summon the drake as one of it's procs. Kinda like how the staff from firelands turned you into Tarecgosa.
What does this Faerie Dragon, typically only associated with druids and the Dream, have to do with the Legendary questline, the final raid tier, or the expansion as a whole? It simply doesn't fit any part of the theme of Mists at all. If there was going to be a mountlike proc or effect from the Legendary like Tarecgosa, wouldn't it make more sense for it to have to do with the Celestials or Wrathion? Or even Seige?
Store mount. They would make far to much money from it not to be.
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