It ignores armor. That should be kind of obvious, because no one would even consider stacking up for it in 10m if it didn't (and monks wouldn't be so much better at soaking it than druid/warrior/DK since they have such terrible armor). Seriously, the normal mode version would hit for like 200k through my CDs if I could use armor against it, and the H version wouldn't hit much harder.
That said, assuming Rook's works for it (and there are posts saying it does, yay!
) I was planning to soak it as a druid, at least the first go around. So the point that any tank can do it is probably still true.