Well, that's a pretty awesome typo Arlee.
As said by dr-acula, your Renew should always be on the tank, whether you're raid healing, tank healing, pug heroics, PvP, it's an awesome spell to use. The "renewing your renew" comes from any direct heal while in Chakra: Serenity, in which case, yes the 12.5% is silly because you're already getting "+ticks" every heal you cast. It's not that the spell is crap, in and of itself. It's that current encounter design doesn't lend it to its blanket use, which it was late Wrath (bubble Bots could be replaced by rejuv/renew bots, and accomplish the same effect for everything except heroic arthas... pre 20% buff).
12.5% is something like 568 rating from gear, or something rediculously small. But why stop your gearing there, when the majority of your healing is coming from heals with a cast time, whether tank healing in 5's (in which case you're automatically refreshing anyways), or raid healing (where that haste is meaningless to Mending or Circle, and both stats are delicious for Prayer of Healing anyways). Renew is a great spell when used correctly. It's quite amazing. The point is, you shouldn't be planning your gear around it, just as a Shadow Priest doesn't stop gearing Haste at Mind Flay ticks between Mind Blast's cooldown anymore. It's a point of irrelevance, when you look at the bigger picture.