Interesting, i wonder if this only affects bleeds or affects other things like Dots/Hots ticking for less when your trinket drops off, or if its specific to ferals because of our mastery. To an extent i understand the logic behind it, so we can't keep tossing up bleeds and then sit in bear form, reapply and repeat.
Edit: after reading aether's post below it makes more sense to me, and im sure it has more to do with Blizz reworking the way dots/hots tick then my above guess. Seeing as how anyone who tossing up bleeds and swaps to bear form is probably doing it wrong :P
Edit 2: OT: didnt mean to hijack this threat, im glad to see druids getting all these new tools! Can't wait do try 2s with my rogue buddy now as feral xD