Curios about this too if we could get feedback from someone with a RG build that would be excellent. Text reads 'all of your cooldowns' so is it dailies as well as encounters? If you are using commanding with stormstep that would be redonkulous. If it is chance per damage and counts it anything like madness it would be going off constantly....
Being as I made a hybrid type build that focused on CD reduction even after the fox bug got fixed I went straight for this set. I however can not really say how much it helps but I made a short video just to show my build in some different settings you can check it out below and decide how the 4 piece works for yourselves!
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https://www.youtube.com/watch?v=9kxOfQz9bXQ