We always automatically discount Expose Armour with a scoff. Are we doing it a disservice? Read on to find out!
Setup:
a) Assuming the boss is 7700 armour (typical for SSC/BT).
b) Assuming the warrior is using a Mallet of the Tides and 1000 attack power. This gives us an average weapon hit of 165 at a speed of 1.7. 1000AP -> 71.43DPS, or +171 damage per hit. We'll also assume 700 damage per Shield Slam.
Case 1: Expose Armour
Improved Expose Armour reduces by 3075 leaving the boss with 4625 armour, or 30.46% mitigation (69.54% taken)
Zero Sunder Armour means no bonus damage, so each Devastate will hit for 1/2 x (165 + 171) = 168. That will get mitigated by armour to 143 x 0.6954 = 117 per hit
Zero Sunder Armour means 109 innate threat, so total threat from one Devastate will then be 117 + 109 = 226 threat.
700 damage Shield Slams get mitigated to 700 x 0.6954 = 487 damage. Threat from one Shield Slam will then be 487 + 307 = 794 threat.
Revenge's average 460 damage will get mitigated to 460 x 0.6954 = 320 damage. Threat from one Revenge will then be 320 + 200 = 520 threat.
Now we can work out the threat for one cycle (Shield Slam, Revenge, Devastate, Devastate) = 794 + 520 + 226 + 226 = 1766 threat for a standard cycle with Expose Armour up, or 1766/6 = 294 threat per second
Case 2: 5x Sunder Armour
5 Sunder Armour reduces by 2600 leaving the boss with 5100 armour, or 32.57% mitigation (67.43% taken)
5x Sunder Armour means 175 bonus damage, so each Devastate will hit for 1/2 x (165 + 171) + 175 = 343. That will get mitigated by armour to 343 x 0.6743 = 231 per hit
5x Sunder Armour means 176 innate threat, so total threat from one Devastate will then be 231 + 176 = 407 threat.
700 damage Shield Slams get mitigated to 700 x 0.6743 = 472 damage. Threat from one Shield Slam will then be 472 + 307 = 779 threat.
Revenge's average 460 damage will get mitigated to 460 x 0.6743= 310 damage. Threat from one Revenge will then be 310 + 200 = 510 threat.
Now we can work out the threat for one cycle (Shield Slam, Revenge, Devastate, Devastate) = 779 + 510 + 407 + 407 = 2103 threat for a standard cycle with 5x Sunder Armour, or 2103/6 = 350 threat per second.
Result:
We see that under the given assumptions, we see that using Expose Armour over Sunder Armour results in a net decrease of 57 threat per second.
Plugging in different typical tanking weapons while keeping the same 1000AP, 700 Shield Slam, and 7700 boss armour (Sun Eater, King's Defender, Unbreakable Will, The Brutalizer), we find that the net decrease remains at 57 threat per second in all cases (the variance appears in the decimals)
Varying the boss armour to other common values (as per EJ:
[RAID] Boss armor values - Elitist Jerks) we get: 6200 armour -> 59TPS, and 8800 armour -> 55TPS. As before, varying the weapon does not alter this value overly much and the variance appears in the decimals.
Note: All numbers above do not include any multipliers! With Defensive Stance and 3/3 Defiance, the 7700 armour value increases to 57 x 1.495 = 85TPS, and similarly the 6200 and 8800 armour values increase to 88TPS and 82TPS respectively.
One thing that isn't modelled here is how autoattack and Heroic Strikes fit into the picture. Certainly with EA up, each of these hits will land a little bit harder and as such generate a little bit more threat. You could call that 2% more as a generalisation (in line with the overall DPS increase of EA), reduce the net TPS loss of your cycles accordingly, and call it 80TPS net loss overall.
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So, is Expose Armour a good idea? Given that you need 5 combo points to apply it in a worthwhile fashion, it certainly is viable for a rogue to build those 5 points while the tank applies 5 Sunders. This neatly sidesteps the loss of the 1500 threat (2242 with stance/defiance) from applying 5 Sunders at the beginning of the battle - just have the rogue apply EA when the 5th Sunder appears on the mob. Depending on how close your DPS hounds your tank, it may not be such a bad idea. The 85TPS loss (51000 threat on a 10 minute fight) translates to roughly 2% more DPS overall. This may or may not be an issue for you.
More notably, the 85TPS decrease won't be an issue when your tank peaks their threat output in the 1000+ range. The case to keep an eye on is when your tank's threat output is bottoming out (rage starvation, boss abilities that freeze the tank, etc.). In those cases is where 85TPS is more likely to make a difference.
As always, the best people to ask are your DPS. Only they know how much they really hold back in general to remain under the tank. (If they say they don't need to hold back, well, you probably need new DPS actually =) Seriously, though, if your DPS aren't holding back then perhaps EA is a viable option.