Ok, just did some basic testing and this is what i can tell you so far
Stunned Targets (tested with warstomp and stoneclaw proc): Take damage, no knockback effect
Rooted Targets (tested with frost nova): Take damage, no knockback effect
Snared Targets (tested with earthbind totem): Take damage, take full distance knockback (not a decreased effect to do snare slowing)
Iceblocked Mage: Immune to both damage and knockback effect.
Feigned Death: Deals full damage and knockback effect
Polymorphed Target: Deals full damage and knockback effect, breaks the CC.
Freezing Trapped Target: Deals full damage and knockback effect, breaks the CC.
Feared Target (tested with Hunter's Fear Beast): Deals full damage and knockback effect, Has a chance to break the Fear just like any other direct damage spell.
Slept Target (tested with Hunter's Wyvern Sting): Deals full damage and knockback effect, breaks the CC.
If there is anything else you can think to test post it here and i'll do my best.
As far as LvB dmg comparison i find the damage to be slightly above that of my lightning bolt. Non-crits generally are around 2k with crits (self buffed) reaching as high as 4600. The damage of LvB is not increased with flame shock, the only difference is a 100% chance to crit. A LvB crit due to pure luck and a LvB crit due to a flame shocked target will do the same amount of damage.
Travel time of LvB is roughly the same as LB.
Anything else lemme know.
*note: Damage of LvB is not done scientifically or anything just what i see in my general grinding. I have points into call of flame, elemental fury, elemental oath, have a 3% crit damage meta, many things that could alter the results so dont take my post as anything more that what it is, my observations.
Special thanks to Malvenue and Doomplane of the Northrend beta server for helping me to test these.
*Edit* Dang, Fortuitous posted 2 while i was typing this out