The spec fails to deliver in terms of grabbing the most important talents of each tree and grabbing ones that may have been good before 3.1 but once it comes out they will be less preferred. I will keep my points short as other people will get into them deeper than I feel is necessary to get the point across : D
Spell Deflection- Ok, it doesnt suck that much, but with the Blade Barrier change its uptime will be shorter and that means less constant magic dmg mitigation than we need. Spikey reduction is not my kinda style so I won't roll with it.
Mark of Blood- You shouldnt be taking self heal/raid heal talents at the expense of survivability and avoidance. Raid healers should be able to take care of the healing on their own.
Icy Talons- This has been covered alot, there is usually an enh shaman in a raid that will cancel this out with their totem so you can use these points elsewhere.
Rune Tap- Again, you shouldn't need to be healing yourself in a normal encounter, unless you are on progression content when Ulduar comes out it might be taken per request, but usually a no-no.
Lichbourne- 3 min CD that will not even give miss once patch is out, I never even used it tbh when I grabbed the talent as frost. Nerf to a pvp aspect that makes it even less appealing in PvE.
Ravenous Dead- 3% Strength grants minimal parry increase, put those 3 points into frost talents.
Here are some things you are lacking that you may want:
Killing Machine- Sure the ppm may be low, but with the HB change to flat non adjusted IT bonus, those crits will still be nice even if FF CD runs out on proc.
Frost Strike- Your spec does not have a definite aggro generator apart from Rune Strike, and FS does alot of damage and cannot be dodged or parried.
Rime- Grabbing annihilation but not Rime? OB will be a big part of your normal rotation and getting free HBs in is always nice.
Blood of the North- Turning those blood runes into deaths to use for OB is another way to proc Rime and increase your TPS.
Guile of Gorfiend,Tundra Stalker, and Howling Blast- You gain expertise, scaling boost to all damaging abilites with Frost fever up, and a sick nasty AoE threat ability that will stick those mobs to you like glue.
This may have run on a bit too long, but breaking it down in a few words makes it easier to piece everything together. Ask Griefnight for a link to the frost spec he will be using if you want to go frost.
Thats it Mr. Giraffe, get ALL the marmalade.