I can honestly say I have used this spell twice. Once when I first acquired it and once after the changes were made to it. It's somewhat usefull if I am not tanking, but if the tank dies and I need to get aggro forget it - even if I click it immediately I won't get aggro. If I hope to have secondary aggro over casters and healers I need to be building it like they are, throughout a fight. Therefore, I just don't use it unless I am soloing mobs that don't hit hard (due to the huge ac hit I don't even use it wen I solo most of the time).
Personally I'd like to see a completely different spell - I have suggested a self-only HoT before, say 400 mana cost, 400 hp per tick, 4 ticks, 3-4 second cast time with a 30 second recharge, doesn't stack with other HoTs on similar lines (EoB etc.). It fits very well with the roll of a paladin and might actually get used. It won't happen, but whatever. The spell doesn't hurt anything sitting in my spell book.