yes it is broken, i play with archmage set and i confirm that it is broken, doesnt do anything the set passive, also confirmed about shield. pls report the bug in game also, so they GM see it.
Steal time is broken after a teleport too. If you cast it right away it just goes on cooldown. Shield also shows "recharging" when it is apparently ready to use sometimes. Tabbed repel doesn't always work when using it on Arcane Singularity, also.
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Also, re-equiping it doesnt seem to fix it